Open Mobile Replaces Movistar
Puerto Rico witnessed the launch of a new mobile operator Open Mobile this week, replacing former operator Movistar, Open Mobile said on its website.
Movistar, formerly owned by Newcomm Wireless, a JV between US-based wireless operator Clearcom and Spanish telecoms giant Telefónica, filed for chapter 11 bankruptcy protection in December last year as it struggled amid a highly competitive sector of six mobile operators.
Compounding the company's fate was the fact that it has a mostly outdated CDMAone network, in bad need of upgrading, meaning it competed mostly on low rate plans, Signals Consulting president, José Otero, told BNamericas in April.
As part of the restructuring plan, the company was sold in March to US-based telecoms holdings companies M/C Venture Partners and Columbia Capital, from Newcomm Wireless for US$160mn.
Open Mobile, which is the legal name of the company starting from June 12, now enters the market with 85,000 clients and unlimited calling plans.
Company representatives from Open Mobile and Colombia Capital were unavailable for comment when contacted by BNamericas, and M/C Venture Partners refused to give any information."
Posted to the site on 15th June 2007
