Colombia Móvil Launches IPO

Mobile phone operator Colombia Móvil is planning to raise up to $82.5 million from it IPO, launched today, Monday. According to Dow Jones, the company is selling shares representing 17.6% of the company’s capital. Colombia Móvil was acquired last year by Luxembourg-based Millicom, which paid about $479 million for 51% of the operator. Corporación Financiera Colombiana is structuring the sale.