Telefonica: agrees capital increase for Colombia's ColTel.
(CercleFinance.com) - Telefonica has agreed to a capital increase of approximately 1.
37 billion euros for its Colombian subsidiary ColTel in order to cancel the contracted debt with Parapat, which owns the telecommunications assets and manages the pension funds of the former companies that formed Colombia Telecomunicaciones.
The Spanish group's capital injection into ColTel will amount to approximately 925 million euros and will be used to fully pay of obligations towards Parapat.
ColTel is 67.5%-owned by Telefonica and 32.5%-owned by the Colombian Government.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
37 billion euros for its Colombian subsidiary ColTel in order to cancel the contracted debt with Parapat, which owns the telecommunications assets and manages the pension funds of the former companies that formed Colombia Telecomunicaciones.
The Spanish group's capital injection into ColTel will amount to approximately 925 million euros and will be used to fully pay of obligations towards Parapat.
ColTel is 67.5%-owned by Telefonica and 32.5%-owned by the Colombian Government.
Copyright (c) 2017 CercleFinance.com. All rights reserved.