The general shareholders of the Colombian operator WOM Colombia have agreed to proceed with a merger by absorption of mobile operator Avantel within 3 to 4 months, said a special merger notification from the Chilean telecommunication group.
According to local press reports, WOM will absorb all of Avantel's responsibilities, brings security to the 300 employees who currently work for Avantel" and that all Avantel stores will rebrand to WOM in the coming months.
Avantel said it sees the merger with great optimism, considering this decision as the ideal way to strengthen connectivity in Colombia through a robust operation, with an ambitious investment plan in infrastructure, a differential customer service, and constant and long-term business development.
The new operator aims to reach 196 own-brand stores and 105 kiosks all over Colombia by the end of the year.
Partners Telecom Colombia (WOM) was founded by Icelandic-owned, UK-based private equity firm Novator Partners in 2019 to bid in the country’s multi-band spectrum auction. WOM has landed in Colombia with the trademark marketing that helped it succeed in the Chilean market.