Telefonica,Telmex, Others Seek To Team With Colombia ETB-Report

Spain's Telefonica SA (TEF), Mexico's Telefonos de Mexico SA (TMX) or Telmex and Brasil Telecom SA (BTM) are among a group of companies interested in injecting fresh capital into Colombia's state-controlled Empresa de Telecomunicaciones de Bogota SA (ETB.BO), financial newspaper Portafolio said Tuesday.

Telmex and Telefonica are the ideal candidates to become ETB's partner as they already operate in Colombia, Portafolio added.

Other companies not present in Colombia yet, such as Brasil Telecom and Venezuelan telecom Compañía Anónima Nacional de Teléfonos de Venezuela, or CANTV, are possible partners for ETB, Portafolio added.

ETB's chief financial officer Mario Contreras recently told Dow Jones Newswires, ETB seeks a partner to inject fresh capital into the company in return for as much as a 49.9% stake in the company.

Contreras said ETB will invite all kinds of investors such as equity funds, phone companies already operating in Colombia and other type of companies.

ETB, which is the main telecom firm of the capital city Bogota, faces rising competition from Telefonica and Telmex.

Full story at: http://www.portafolio.com.co//economia/economiahoy/2009-03-31/ARTICULO-WEB-NOTA_INTERIOR_PORTA-4921443.html

-By Diana Delgado, Dow Jones Newswires; 571-6107044 Ext 1132; [e-mail]