Ola extends partner search

31 Mar 2006

The deadline for interested partied to submit offers for a stake in Colombia wireless operator Colombia Movil (Ola) has been extended by a month. Six international cellcos and four investment banks are reported to be still in the running for the stake; they, along with any newcomers, will be given cost free access to Ola’s dataroom for the next 30 days, after which they will be invited to make non-binding proposals to Ola’s owners, ETB and EPM. There will then be a 90 day negotiation period, after which the winner will be announced.

Colombia, Colombia Movil (Tigo Colombia)