Telefonica not to sell Colombia unit

Nieuws Algemeen Colombia 9 MAY 2013
Telefonica not to sell Colombia unit

Telefonica said it would not sell its unit in Colombia, Reuters reports. Telefonica has also announced that it has started talks with the Colombian government, also a shareholder, to find ways to capitalize the business and increase liquidity. "In Colombia I want to stress that we are not sellers," Telefonica CFO Angel Vila said.

Back in April, press reports claimed that Telefonica was planning a partial listing of its Colombian business to help cut debt.

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