Telmex-Comcel merger under investigation in Colombia
09 July 2012
A merger of two telecoms giants in Colombia is being investigated by the country’s Superintendency of Industry and Commerce (SIC).
The merger of Telmex and Comcel under the Claro brand in June 2011 could impact several markets and may have breached legal guidelines, according to La Republica.
Telmex, the fixed-line services unit of América Móvil, and Comcel have previously merged in Argentina, Chile, Ecuador and other Latin American markets.
Following the merger, América Móvil has claimed that there will be a process of rebranding and brand unification but that Telmex and Comcel will continue operating independently.
Mexican telecoms company América Móvil is the fifth largest mobile operator in the world by subscribers. A venture of the richest man in the world, Carlos Slim, it operates in 18 countries with approximately 245 million mobile subscribers.
Last year, the Mexican telecoms giant saw a 4.7% year-on-year drop of profits. Despite mobile subscribers growing by 1.7 million in Mexico and 2.9 million in Brazil, the high cost of updating infrastructure was attributed to the loss.
David Hing, London