Garrigues and Nieto Abogados advised on the transaction
ETB and UFINET signed an agreement to create a company that will commercialize a neutral Fiber To The Home (FTTH) network in the wholesale telecommunications market in Bogotá, as well as its nearby towns.
The network will begin with an offer of more than 1,200,000 homes. The initial plan consists of doubling that figure, thus offering coverage in Bogotá-Region of about 2,500,000 homes in a maximum period of 3 years.
The strategy will allow more families in Bogotá-Region to have ultra-broadband access, including layers 1 and 2, especially important in today’s new reality, when the lack of connectivity or low speeds mean fewer opportunities to study, work from home, or entertainment.
The operation is subject to the pre-evaluation of the Superintendency of Industry and Commerce.
ETB is the main telecommunications operator in Bogotá, whose majority shareholder is the Distrito Capital (Capital District).
UFINET is the neutral telecommunications network infrastructure operator of reference in Latin America, with more than 75,000km of optical fiber deployed in Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Colombia, Ecuador, Peru, Brazil, Paraguay, Argentina, and Chile.
Garrigues advised Ufinet Latam S.L. with Ignacio Londoño (Picture), Camilo Zarama Martínez, Laura Galeano Daza and Paola Valderrama Ortiz.
Nieto Abogados advised Empresa de Telecomunicaciones de Bogotá S.A. E.S.P. with Luis Eduardo Nieto (Picture), Juan Antonio Vallejo, Jimena Marín, César Pérez and Manuela Chavarro.
Involved fees earner: Laura Galeano Daza – Garrigues; Ignacio Londoño Rivera – Garrigues; Paola Valderrama Ortiz – Garrigues; Camilo Zarama Martínez – Garrigues; Manuela Chavarro – Nieto Abogados (Colombia); Juan Antonio Vallejo – Nieto Abogados (Colombia); Jimena Marín – Nieto Abogados (Colombia); Luis Eduardo Nieto – Nieto Abogados (Colombia); César Pérez – Nieto Abogados (Colombia);