Buyers lining up for Telecom

16 Jan 2006

According to Telecom Colombia, Spanish and Venezuelan telcos Telefonica and CANTV have shown an interest in bidding for a controlling stake in the company, scheduled to be privatised in March. Two other state-owned telcos Empresa de Telecomunicaciones de Bogota (ETB) and Empresas Publicas de Medellin (EPM) have also paid the USD17,000 to access due diligence documentation. It is not yet clear whether Telmex, which was granted control of Telecom last year but whose contract was later invalidated by regulators, will rejoin the process.