Novator looks to boost Colombian presence with Telefonica bid

Novator looks to strengthen Colombian presence with Telefonica bid

Novator Partners is reportedly lining up a bid to acquire a controlling stake in Telefonica Colombia.

The London-based firm, which owns Chilean newcomer WOM, recently entered the Colombian market but had an initial stumble after massively overbidding on a block of spectrum and requesting its offer be withdrawn.

Novator appears keen to take Telefonica’s position in the market. The Spanish-headquartered group is looking to divest its operations in a number of Latin American markets – including Colombia - and did not bid in the country’s recent spectrum auction. Novator meanwhile obtained concessions in the 700MHz and 2.5GHz bands, strengthening its position for a takeover bid.

The same report from Spain’s El Economista indicates that Novator may also attempt to buy out Avantel, a Colombian LTE service provider in the process of restructuring its significant debts. In 2016, Novator reportedly attempted a similar takeover bid although no agreement was reached at the time.

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