In this way, the fourth largest telecommunications company in the Andean country will continue to operate.
WOM, the fourth largest mobile operator in Colombia, announced its acquisition by SUR Holdings, a group of businessmen and investors from the United States and the United Kingdom with experience in the telecommunications and technology sectors. The amount and details of the transaction were not disclosed.
Mauricio Lizcano, Minister of ICT, said that this news is favorable for the telecommunications sector in Colombia, since with the possible integration between Tigo and Movistar, it appears to be the third competitor in the market, along with Claro.
"We gave the new investor a three-year grace period on spectrum payments, which will be paid off with interest from 2029. Payments for the deployment and auction of 5G remain as normal," Lizcano said on his X account.
In recent years, WOM Colombia has invested more than US$1 billion in the country's telecommunications sector, enabling the deployment of more than 5,100 antennas and the opening of 475 stores nationwide. These investments have introduced new options and innovative services for consumers, substantially improving coverage, particularly in rural areas.
"The company has also contributed to the creation of a more equitable and competitive market for mobile plans and telecommunications services, achieving a reduction in the CPI (Consumer Price Index) of more than 12% and a 52% decrease in postpaid plans and in the cost per gigabyte. Thanks to these advances, Colombia now enjoys one of the most competitive mobile rates in Latin America," the telco said in a statement.
Ramiro Lafarga, CEO of WOM Colombia, said: "With this milestone, our future is bright. We are committed to closing the digital divide across the country and excited to continue strengthening our position in the market. This acquisition allows us to successfully navigate the opportunities and challenges ahead."
As a reminder, WOM entered into a reorganization process in April 2024, after requesting the Superintendency of Companies to avail itself of this benefit, which allows it to sit down and renegotiate its debts in order to maintain its operation.
"WOM expresses its gratitude to the Ministry of Information and Communications Technology (MinTIC) and the Superintendency of Companies, who have accompanied the company throughout the process and have shown unwavering support to maintain its operations in the country. WOM continues to move forward with full force!" the company concluded.
