Categories: Americas, Carriers, Finance

Chilean GTD enters Colombian telecom market with acquisition of Flywan

GTD

CARTAGENA DE INDIAS (COLOMBIA)– Chilean fixed-line, cable TV and Internet provider Grupo GTD is expanding its business and will start operating in the Colombian telecom market. On September 3, the group announced the acquisition of the Colombian telecom company Flywan.

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The purchase is part of GTD’s strategic plan to grow its business outside of Chile and internationalize its operations. GTD has been trying for some time to expand its business through acquisitions. It almost merged with Chile’s second-largest mobile telephone operator, Empresa Nacional de Telecomunicaciones SA (Entel), but the agreement was cancelled in January of this year. In 2005, GTD bought Manquehue Net, and in 2009, it acquired Telefónica del Sur.

Grupo GTD general manager, Alberto Bezanilla, said that the purchase of Flywan was a well- studied, strategic decision. He added that the company has “a unique opportunity” for growth and that it is carrying out the acquisition in the safest way possible in order to maintain services with the highest quality standards.  Benzanilla said that today Columbia  is a very important place for some GTD customers and therefore, for GTD.

Flywan has a presence in the major cities of Colombia and carries a large portfolio of clients.

The financial terms of the deal were not disclosed.

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