Colombia Movil Renews Mobile Operator License
Published on: 4th Dec 2012
Note -- this news article is more than a year old.
By: Ian Mansfield
Colombia Movil an affiliate of Millicom International has renewed its license for another 10 years (up until February 2023).
In February 2013, the company will make an initial payment for the license of COP 93,000 million (USD51 million). The final consideration to be paid for the renewal and 50 MHz of spectrum in the 1900 MHz spectrum band will be determined by the "Tribunal de Arbitramiento" (Arbitrage Court) in the next 12-18 months.
Hans-Holger Albrecht, President and CEO of Millicom commented "We are pleased to have renewed our license in Colombia today. Colombia is one of the fastest growing markets for us and we look forward to continue bringing innovative digital products and services to the people of Colombia through this license renewal."