Novator Partners acquires Avantel’s majority stake in Colombia

Colombian telco Avantel, which offers internet and mobile telephony, announced that the English firm Novator Partners, owner of Wom in Chile, acquired the company’s majority stake, and looks forward to running an agreement in the reorganization process it is facing, as reported by several specialized websites.

‘Avantel confirms that Novator acquired a majority stake in the company’s shares and has taken the first steps in legal terms in order to make an agreement in face of the reorganization process governed by Law N° 1116 (2006), which is being taking place’, said the company, without reporting details or figures of the operation.

Novator Partners participated in an auction to acquire radio spectrum in Colombia in 2019. Last January, the website of the Spanish newspaper ‘El Economista’ reported that the firm was analyzing the acquisition of Avantel. In addition, it was also analyzing the possibility of acquiring Telefonica’s operations in Colombia