Ola plans IPO

Wireless network operator Colombia Movil (Ola) has revealed plans to float at least 15% of its capital on the Bogota stock exchange in 2006. The floatation is a condition of its PCS licence, which requires it to hold an IPO by the fourth year of operation. The company has until February 2006 to register with the local bourse. Ola is a joint venture between fixed line operators EPM and ETB.