Colombia Móvil (OLA) Attracts Three

Colombia Móvil, known as OLA, the mobile phone operator of Colombia’s two largest telcos – Empresa de Telecomunicaciones de Bogotá (ETB) and Empresas Públicas de Medellín (EPM) – have attracted three potential buyers. Chile’s Empresa Nacional de Telecomunicaciones, the UK’s Digicel, and Luxembourg-based Millicom International Cellular have all expressed an interest in buying the controlling stake in OLA, according to a filing with the stock exchange regulator made by EPM. In March, ETB and EPM announced that control of OLA was up for sale despite previous assurances that they were merely looking for a strategic investor to capitalize the mobile operator.