7 April named for Colombia Telecom auction

29 Mar 2006

The auction for a 50% plus one share of Colombia Telecom will be held on 7 April, writes BN Americas. By the end of this week it is likely that Citibank, the investment house in charge of the sale, will release details of the minimum bid and other terms. After that interested parties will have a week to put together their technical and economic proposals. Telefonica, CANTV, Telmex and a joint venture between cableco Cablecentro and Swedtel, are all reported to be planning bids. The Colombian government is hoping to raise in excess of USD350 million from the sale.