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Telefónica seeks call-center buyer in Colombia merger

Tuesday, April 3, 2012

Spain's Telefónica is looking for buyers for units such as its call center Atento to minimize concern over liability levels.

The plan comes as Telefónica is merging its Colombian assets to help cut $1.7 billion in debt.

Telefónica will combine its Colombian wireless division with the fixed-line unit it co-owns with the local government, giving Telefonica 70 percent of the enlarged company and the state the remainder.

Source: Bloomberg Businessweek