Telefónica Colombia today announced the merger of two of its subsidiaries in the country, Telebucaramanga and Metrotel, with which it assumes the leadership of the telecommunications sector in the cities of Bucaramanga and Barranquilla.
The integration of these subsidiaries is a consequence of the capitalization process carried out in 2017 by the shareholders of Telefónica Movistar Colombia for 6.45 billion pesos (about 2.028 billion dollars today), the company said in a statement.
"The incorporation of the subsidiaries is strategic for the company since it allows it to boost its presence in two markets that have been characterized not only by its accelerated growth in recent years, but also by the rapid adoption of technology," said the president of the company. Spanish company in the country, Fabián Hernández.
Telebucaramanga operates in Bucaramanga, capital of the department of Santander (northeast), while Metrotel is from Barranquilla, the main city of the Colombian Caribbean and capital of the Atlantic.
With the integration, Telefónica added to its 18.7 million customers in Colombia, 328,000 subscribers in Bucaramanga and 283,000 in Barranquilla, which represent the fourth and fifth most important market in the telecommunications sector in the country.
"Our mission at Telefónica Movistar is to lead an inclusive digitalisation, that is, everyone has the opportunity to participate in this connected world, with this integration we are adding experiences, skills, knowledge to innovate and serve better," added Hernández.
The company assumed a 55% share in broadband, 24% in television, 64% in fixed telephony, 49% in postpaid mobile telephony and 42% in prepaid in Bucaramanga.
While in Barranquilla it will have 55% in broadband, 33% in television, 63% in fixed telephony, 18% in postpaid mobile telephony and 13% in prepaid.
Telefónica Movistar Colombia plans to invest more than 140,000 million pesos (about 44 million dollars) in the remainder of 2018 and 2019 in the two cities.