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General

Fine could affect Telefonica Colombia capitalisation - COO

Thursday 27 July 2017 | 15:06 CET | News
The decision to fine Telefonica unit Colombia Telecomunicaciones (Coltel) around USD 529 million for breaching a government contract could affect the plan to capitalise the Spanish group's Colombian unit, reports El Economista, citing new Telefonica chief financial officer Angel Vila Boix. The decision "clearly" had the potential to affect the recapitalisation of Telefonica Colombia's assets, said Vila, adding that it was "too early" to speculate on its potential impact. He said the ruling "doesn't favour investments in the telecommunications sector in Colombia."

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Categories: General
Companies: Movistar Colombia / Telefonica
Countries: Colombia / Spain
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