TeleGeography Logo

Telefonica agrees merger deal with state

2 Apr 2012

Spain’s Telefonica and the Colombian government will merge Telefonica Moviles Colombia with Telefonica Telecom, the latter part-owned by the Colombian state. Under the agreement, Colombia will assume 48% of pension payment obligations, helping reduce the Spanish company’s net financial debt of around EUR1.3 billion (USD1.734 billion). According to Reuters, the combined company will be 70% owned by Telefonica, with the remaining 30% held by the Colombian government, with the option for the government to increase its stake by 3% in 2015. No date was given for the expected completion of the merger.

Colombia, Telefonica Colombia (Movistar), Telefonica Telecom (Movistar)

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.