Colombia Telecom fixes deadline for finding strategic partner

9 Dec 2005

State-run fixed line operator Colombia Telecom has announced a new timeline for finding a strategic partner, and now aims to complete the process by the end of the first quarter of 2006. Later this month Telecom will publish a formal announcement of its intent to initiate a strategic partnership and open a data room for interested parties. As part of the process, finance group Citigroup is performing a valuation of the company, following an internal valuation and another performed by Deutsche Bank. Mexican telco Telmex, Spanish telecoms group Telefónica and local investment group Gilinski are all interested in Telecom, according to its president Alfonso Gómez. Contrary to previous reports, neither of the municipal operators ETB and EPM have shown an interest.