Telefónica's Fabián Hernández Discusses Merger with Tigo; Millicom Acquisition of Movistar Colombia Looms

Telefónica is undergoing significant changes in Colombia as it prepares for a major merger with Tigo, a move aimed at increasing investment in the telecommunications sector. Fabián Hernández, the president of Telefónica Colombia, emphasized the importance of shared network implementation as part of the company's global strategy. This merger is part of a broader trend in the Colombian telecommunications market, which has seen substantial corporate maneuvers over the past two decades, including Telefónica's entry into the market. Meanwhile, Millicom is expected to finalize its acquisition of Movistar Colombia, a deal intended to challenge Claro's dominance in the region. In other corporate news, Javier Rodríguez-Heredia has been appointed as the new managing partner at Azora, and Óscar Candiles has been promoted to the number two position at Telefónica's Spanish subsidiary.