October 27, 2025
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Business Colombian economy

Millicom Rejects Atlas Bid, Unveils Movistar Merger Deal, EPM Share Bid

Medellin Herald
Luxembourg-based multinational telecom-internet-cable-TV giant Millicom announced today (July 31) a deal whereby Millicom and Spain-based Telefonica would merge their Colombia operations and also buy-out EPM´s 49.9% stake in Tigo-UNE. The announcement comes on the heels of Millicom´s rejection of the recent US$4.1 billion buyout offer from telecom competitor Atlas Luxco
Business Companies

Fabricato Falls Into Bankruptcy

Medellin Herald
Medellin-based textile giant Fabricato S.A. announced July 12 in a filing with Colombia’s Superfinanciera oversight agency that it has formally entered bankruptcy protection. The bankruptcy filing “has as its objective the protection of credit and the recovery and conservation of the company as a unit of economic exploitation and source of employment, through
Health & Insurance. Uncategorized

Sura EPS Health Network Going Kaput, Leaving Millions in Limbo

Medellin Herald
Medellin-based health-network-insurance provider Sura EPS – one of Colombia’s biggest EPS organizations, with 5.4 million members – announced May 28 that it has just begun the process to exit the health-insurance market, effectively due to government financial strangulation. The move comes as Sura EPS — a subsidiary of Medellin-based multinational insurance giant
Business Companies

Start-Up Solar-Photovoltaic Energy Company Targets ‘Greener’ Growth

Medellin Herald
Medellin’s up-and-coming “Oriente” suburbs not only host the JMC International Airport and burgeoning residential/commercial developments, but also some unusually innovative companies — including a far-sighted solar photovoltaic (PV) start-up by the name of “50/50 Group.” Initially created in 2021 by (now-retired) former Shell Manager Claudia Zuluaga as a “green”
Business Companies

Grupo Excala Post 1Q 2024 Net Loss

Medellin Herald
Medellin-based multinational specialty-fibers and packaging producer Grupo Excala/Compañia de Empaques announced May 14 a net loss of COP$918 million (US$240,000) for first quarter (1Q) 2024. The loss was blamed on a COP$9.08 billion (US$2.37 million) deterioration in the value of Excala’s investment in agroindustrial production of fique fiber. Excala meanwhile reported a

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