Ola Seeks To Raise Further Revenues Through IPO

Colombia's third-ranked mobile operator Colombia Movil (Ola) is planning to sell 9.25mn shares on the local stock market, which by end February 2007, will rise to account for some 15% of the company. While it has not been determined how much the operator will raise from the IPO, given that its shareholders have yet to meet to decide on the price of each share, it is expected that the proceeds will go towards expanding its market share. The operator has a 9% share of the market, a far cry from that of market leader Comcel (64.3%) and No2 Movistar (26.7%),

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