January 1, 2013
Merging the Telefónica Móviles Colombia wireless unit and the fixed-line operations of Colombia Telecomunicaciones (Coltel) seemed a clear way to face the challenge from competitors that had already integrated their fixed and mobile operations.
But this was no simple company reorganization.
The government – which held 48% of Coltel – would have to be involved. That meant compensation and negotiations over the stake in the combined entity, not to mention the authorization process. Spain’s Telefónica held the remaining 52%.
There were also debt obligations to divide. These included some 3.5 trillion pesos ($1.91 billion) owed to the Patrimonio Autónomo Receptor de Activos (Parapat), a trus
Telefónica Moviles Colombia / Colombia Telecomunicaciones