Profits up 329%, subscribers up 58% at TEM’s Colombian arm

Bellsouth Colombia, the mobile unit now wholly owned by Telefónica Móviles (TEM), saw its net income grow to COP178 billion (USD76.9 million) in 2004, up 329% from COP41.5 billion, helped by an appreciation of the peso compared to the US dollar. At the end of the year subscriber numbers stood at 3.3 million, up 58% in the year. BellSouth Colombia will undergo full rebranding under the TEM banner at a later date.