Telefónica Móviles Colombia, a unit of Spain’s Telefónica, announced that it was approaching the capital markets to raise Ps350bn (US$200m) in debt.
A representative of Telefónica in Spain said that the majority of this money would be used to service…
Telefónica Móviles Colombia, a unit of Spain’s Telefónica, announced that it was approaching the capital markets to raise Ps350bn (US$200m) in debt.
A representative of Telefónica in Spain said that the majority of this money would be used to service local liabilities.
Telefónica Móviles Colombia, which operates the Movistar brand, has 9.5 million subscribers in Colombia. It reported losses in the region of Ps123bn (US$68m) for the first half of 2010.
Local sources also claimed that part of the money would be used in the roll-out of a 3.5G network in Colombia.
