Telefónica rules out more acquisitions in Colombia

Spain's Telefónica has stopped its acquisition spree in Colombia after its purchase of a 50% plus one share in Colombia Telecomunicaciones, a BNAmericas report said.

The report, quoting the Spanish daily Cinco Días, said Telefonica would instead focus on "developing" the business after its acquisition.

"We don't have any new acquisitions planned in Colombia. Now what we want to do is develop what we [already] have," Telefónica president César Alierta was quoted as saying.

Through the acquisition, Telefónica now had a presence equivalent to 2.6 million subscribers, meaning it had a lot of ground to cover to catch up with arch rival América Móvil, which had 13.8 million clients and a 62% market share through its mobile unit Comcel, the report said.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.