Telefonica's Colombian Mobile Unit Gets $125 Million ABN Amro Loan

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Dimanche 22 nov 2009 | 22:08:54

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Telefonica's Colombian Mobile Unit Gets $125 Million ABN Amro Loan

BOGOTA -(Dow Jones)- Telefonica Moviles Colombia SA, the mobile unit of Spain's telecommunications giant Telefonica SA (TEF), secured a $125 million loan from to ABN AMRO Holdings NV (30110.AE), the company told the securities regulator Monday.
The loan expires in 2013.
Officials at Telefonica Moviles weren't immediately available to provide further information.
Telefonica, which has a 26% market share in Colombia, competes with Comcel, the local unit of Mexico-based America Colombia Movil SA, which controls 64% of the Colombian market and Colombia Movil SA, the local unit of Millicom International Cellular SA (MICC), with 10%.
Last year, Telefonica Moviles secured $600 million in loans from the Inter-American Development Bank and other commercial banks to expand its telecommunication networks.
-By Diana Delgado, Dow Jones Newswires; 571-6107044 EXT 1132; diana.delgado@dowjones.com
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