Telmex to run Colombia Telecom

23 Aug 2005

The Colombian government said yesterday that it had reached an agreement with Telmex under which the Mexican telco will become a strategic partner of state-run Colombia Telecom, taking over its administration and operational management. Officials said that Telmex will make an investment in the Colombian wireline operator but will not buy a stake in it. Telecom had announced that it wanted an international partner to help it break into the mobile business and generate higher revenues to cope with costly pension liabilities.