Telecom-Telmex deal on hold

23 Sep 2005

A deal under which Mexico’s Telmex has offered to buy a majority stake in Colombia Telecom for USD350 million has been put on hold while Colombian authorities review the details of the proposed transaction, according to BNamericas. The Controller General’s office has also asked Telecom to revise its memorandum of understanding with Telmex to include a detailed description of the rights the currently state-run telco will have once it is managed by the Mexican operator.