ATLANTA-BellSouth Corp. will acquire a 33.8-percent stake in Celumovil SA, a wireless communications provider in eastern and Atlantic regions of Colombia, for $295 million.
Celumovil’s coverage area in Colombia includes approximately 26 million people, including the cities of Bogota, Baranquilla and Cartagena.
“With its huge potential for growth and strategic location as a gateway to South America, Colombia is a natural fit for BellSouth,” commented Charles Miller III, president of BellSouth International. “Our stake in Celumovil positions us to participate in the growth of one of Latin America’s most important markets.”
The transaction is expected to close later this year.
