Colombian government poised to renew Telefonica stake sale

摘要

The Colombian government is set to intensify its attempt to sell its 32.5% stake in Telefonica Colombia (Movistar) -two years after its initial sale attempt floundered. According to La Informacion, the government will seek to exploit the recently approved Legislative Decree No. 811, which has opened the door to the privatization of public companies, or companies in which the state has a significant participation. The government's commitment to selling the stake is likely to benefit Telefonica too; the Spanish giant is committed to offloading all its business in Latin America, except Telefonica Brasil. Any interested bidders are now theoretically able to acquire both stakes and gain full control of the telco.