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General

Telefonica completes Movistar-Colombia Telecom merger

Monday 2 July 2012 | 11:09 CET | News
Telefonica announced it has completed the merger of Telefonica Moviles Colombia (Movistar) with Colombia Telecomunicaciones. Consequently, Telefonica holds 70 percent of the share capital of the resulting company while the Colombian government controls the remaining 30 percent. As a result of the merger, Telefonica's consolidated net financial debt will be reduced at the end of the second quarter by around EUR 1.45 billion.

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