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General

Telefonica Colombia confirms EUR 1.8 bln capital hike, pays EUR 472 mln fine

Wednesday 30 August 2017 | 11:40 CET | News
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Telefonica announced that it has come to an agreement with the Colombian government to increase the capital of its subsidiary Colombia Telecomunicaciones (Coltel) by around EUR 1.37 billion to pay debt owed to asset management fund Parapat. The government still owns 32.5 percent of the company following the merger of Colombia Telecomunicaciones (Coltel) and Movistar Colombia in 2012, with Telefonica owning the remaining 67.5 percent. The Spanish group said its capital injection into Coltel will amount to around EUR 925 million and will fully settle its obligations with Parapat, the consortium

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