Une-EPM finalises ETP transaction

28 Sep 2016

Colombian telco Une-EPM has been granted permission by its bondholders to absorb the operations of its regional subsidiary Empresa de Telecomunicaciones de Pereira (ETP), following its April 2016 purchase of the final 0.2% stake in the smaller company. Going forward, ETP is expected to start operating under the Une-EPM name by 2017.

As previously reported by TeleGeography’s CommsUpdate, in July 2013 Une-EPM took control of municipal operator ETP as it sought to simplify its group structure ahead of its now-completed merger with Millicom International Cellular-owned Tigo. At that date EPM acquired some 186.8 million shares in ETP for COP64.25 billion (USD34 million), increasing its stake in the Pereira-based operator from 56.14% to 99.98%.