World VoIP NewsTelefonica may offer EUR700 million for controlling stake in ETBTelefonica may offer EUR700 million for controlling stake in ETB

Telefonica may offer EUR700 million for controlling stake in ETB


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Spanish telecoms giant Telefonica may offer EUR700 million (USD962 million) to acquire a controlling stake in Colombian telecoms operator ETB, writes BNamericas citing local paper La Republica.
Spanish telecoms giant Telefonica may offer EUR700 million (USD962 million) to acquire a controlling stake in Colombian telecoms operator ETB, writes BNamericas citing local paper La Republica.

The Bogota municipality currently holds 86.59% of ETB, while minority shareholders have the remainder. ETB needs a partner to bring in more capital in order to better compete in the increasingly competitive telecoms market. The telco plans to sell new shares, equivalent to a 36.6% stake.


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