Novator takes majority stake in Colombia’s Avantel

Novator takes majority stake in Colombia’s Avantel

Novator Partners has acquired a majority holding in Colombian operator Avantel for an undisclosed sum.

Reuters reported that the UK-headquartered, Icelandic-owned Novator will begin restructuring the unit, which provides mobile and broadband services to around 2.3 million subscribers, giving it a market share of around 3.5%.

Colombia auctioned spectrum in multiple frequency bands in December last year, with Novator Partners entering late via a bidding vehicle and successfully obtaining airwaves in the 700MHz and 2500MHz bands – although not without having to withdraw and re-enter its bid for the 2500MHz blocks after it accidentally overbid by a colossal amount.

Novator has a presence in Chile with WOM, and has installed this unit’s former CEO Chris Bannister as the head of its Colombian operation. Alongside Avantel, there are already several operators present in Colombia, including Movistar, ETB, Tigo, Virgin and market leader Claro.

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