Millicom And Digicel Battle It Out For OLA

Luxembourg-based Millicom and Caribbean-based Digicel Group are the only two bidders remaining for Colombia Móvil, known as OLA, the country’s third-largest mobile phone company, after Chilean telco Entel withdrew from the race. OLA has again delayed the deadline for deciding a strategic partner, this time until August 31. The company is due to sell 50% plus one share of its capital to an investor in return for an injection of capital. OLA is owned by Colombia’s two largest telcos – Empresa de Telecomunicaciones de Bogotá (ETB) and Empresas Públicas de Medellín (EPM).