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Wireless

WOM-owner Novator acquires Colombia's Avantel

Wednesday 8 July 2020 | 11:35 CET | News
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UK-based investment fund Novator, owner of Chilean operator WOM, has announced the acquisition of a controlling stake in Colombian mobile operator Avantel for an undisclosed amount, confirming earlier rumours. The deal comes after Avantel was forced to restructure its debts to "guarantee the viability and continuity of operations" in December, mainly due to wholesale roaming costs payable to rivals Tigo-Une (Millicom), Claro (America Movil) and Movistar (Telefonica).

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Categories: Mobile & Wireless
Companies: Avantel / Novator / WOM
Countries: Colombia
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