Telmex to Take Control of Telecom Columbia

Slim said he hopes the merger will position Colombia Telecom, a fixed-line company, to penetrate Colombia's cellular market, currently dominated by three private firms.

There are some 15 million cell phone users in Colombia, a country of 44 million people. Telmex has experience in the mobile sector through its wireless company America Movil, Latin America's largest cellular firm.

"There's no doubt that Telecom needs a strategic partner to move forward, but the agreement with Telmex endangers the future of this company, which is owned by all Colombians," El Tiempo, Colombia's main newspaper, said an editorial Friday.

But the deal is also seen as an important boost for Colombia, whose 41-year-old guerrilla war has made many foreign investors wary. Slim said he feels Colombia's future is bright.

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Anonymous said…
Stay off the topic until you know the difference between Colombia and Columbia.