Chilean operators to merge

30 Nov 2011

Grupo GTD and Entel have signed an agreement under which the two companies will merge their operations. Pending the completion of due diligence and shareholder approval, all telecoms operators that are part of Grupo GTD will become subsidiaries of Entel. The Casanueva family, currently the owners of an 84% stake in Grupo GTD, will own 9.8% in Entel. The deal – which should be signed by 23 December at the latest – will allow Entel to more than double its presence in the Chilean wireline voice telephony market, although in terms of main lines in service the newly enlarged company will remain some way behind market leader Telefonica CTC Chile.

Chile, Entel Chile, Grupo GTD (incl. Telsur)