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Tigo to buy ETB's stake in Colombia Movil for USD 240 mln

2013-11-14 08:45:00| Telecompaper Headlines

(Telecompaper) Colombian operator Empresa de Telecomunicaciones de Bogota (ETB) has agreed to sell its 24.99 percent stake in Colombia Movil to Tigo for COP 463.8 billion (approximately USD 240 million). ETB plans to use the net proceeds from the sale to launch 4G services. Back in June, ETB in partnership with Colombia Movil, acquired 30Mhz of AWS spectrum for provision of 4G services across Colombia. Following the completion of the transaction, ETB will keep 50 percent of this spectrum, El Espectador reports.

Tags: buy usd colombia stake

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