Novator Partners may buy Telefonica’s subsidiary in Colombia

As reported by the Spanish newspaper El Economista, private equity firm Novator Partners is evaluating the possibility of acquiring Telefónica’s subsidiary in Colombia. According to industry sources quoted by the newspaper, Novator Partner’s interest is in an initial phase, although other acquisitions in the country are also considered, such as that of mobile operator Avantel.

The company, owner of Wom in Chile, aims to enter the Colombian market after having taken part of the last bidding of 700 MHz and 2,500 MHz spectrum, in which it offered more than USD 891 million, in a tender in which Tigo and Claro also participated.

El Economista also reported that, due to the auction conditions, Novator Partners is bounded to deploy its new 700 MHz networks in 670 Colombian locations in one year, while Claro and Tigo will be able to do so during the next five, in a number of locations two times greater. In case of not fulfilling this, the firm, owned by Icelandic Thor Björgólsson, would lose the concession for the use of 5G networks over the next 20 years.