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General

Movistar to merge with Colombia Telecom

Monday 2 April 2012 | 20:55 CET | News
Telefonica Moviles Colombia (Movistar), Colombia Telecomunicaciones, and the Colombian government have reached a final agreement to restructure their fixed and mobile business in Colombia. Colombia Telecomunicaciones is 52 percent owned by Telefonica Group and 48 percent by the Colombian government. The agreement includes, among other commitments, the assumption by the government of the 48 percent of the payment obligations not yet due of Colombia Telecomunicaciones to Parapat, the consortium which owns the telecommunications assets and manages the pension funds for the entities that comprise

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Categories: General
Companies: Movistar
Countries: Colombia
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