OLA Delays Decision

Colombia Móvil, known as OLA, the country’s third-largest mobile phone company, has delayed the deadline for deciding a strategic partner from August 3 to August 11. The company is due to sell 50% plus one share of its capital to an investor in return for an injection of capital. OLA, owned by Colombia’s two largest telcos – Empresa de Telecomunicaciones de Bogotá (ETB) and Empresas Públicas de Medellín (EPM) will pick from three companies that pre-qualified: Luxembourg-based Millicom, Caribbean-based Digicel Group and Chile’s Entel.