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Shareholders approve Movistar-Colombia Telecom merger

Tuesday 1 May 2012 | 11:25 CET | News
Telefonica Moviles Colombia (Movistar) and Colombia Telecomunicaciones shareholders have approved the merger agreement announced at the beginning of April, Portafolio reports. 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 the National

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Categories: Mobile & Wireless
Companies: Movistar
Countries: Colombia
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