CLARO STARTED WITH THE WRONG FOOT

CLARO STARTED WITH THE WRONG FOOT

The unification in a commercial brand of Telmex and Comcel in Colombia was announced with fireworks but apparently not everything is joy.

Both companies enforced the idea that this was not a merge, but a unification of the operations of both companies into one commercial brand, which is Claro; company that operates in 15 countries of the region and is the largest cell phone operator in the region (this company is owned by Carlos Slim Helu). But nevertheless the company shares the management and the president of both organizations, also apparently could be a misunderstood with the SIC (Spanish acronym for Superintendency of Industry and Commerce). This is why this governmental institution called both companies in order to clarify some aspects of this unification of processes, management and commercial strategy.

According to the analysts, the companies did not issued a communication to the SIC to explain the scope of this union and did not ask for its permission; thing that, even though is not a merge, is required by law in Colombia. At the moment there will be no investigation, just an inquiry to clarify the aspects of the unification of the brands into one larger commercial brand.

We will keep informing about the development of this issue, due to the impact that this could generate in the market value of the companies and the holding.