Tuesday, September 28, 2021

Become part of our community

captcha 
EPM to Sell its Stake in UNE-EPM EPM to Sell its Stake in UNE-EPM Source: UNE-EPM

EPM Board Votes to Sell its Stake in ‘UNE’ Telecom/Internet Venture

Published in Companies Written by  May 26 2021 font size decrease font size increase font size 0
Rate this item
(1 Vote)

Medellin-based utilities giant EPM announced last night (May 25) that its board of directors just voted to start the process of selling its minority stake in the “UNE-EPM” telecom-internet-cable TV company and the related “Inversiones Telco” company.

UNE-EPM is a partnership between EPM and Spain-based multinational telecom provider Millicom.

According to EPM, proceeds from the proposed sale would be reinvested in EPM’s other businesses, mainly in electric power, water, sewer, trash and natural-gas services.

Medellin Mayor Daniel Quintero now must present the proposed divestiture of its stake in UNE-EPM to the Medellin City Council for final sale authorization, according to EPM.

UNE-EPM posted net losses in 2020 and 2018, while its 2019 net profit came-in at just COP$519 million (US$128,000).

For first quarter (1Q) 2021, UNE-EPM posted a net loss of COP$87 billion (US$23 million), an improvement over the COP$189 billion (US$50.5 million) net loss in 1Q 2020

Read 1037 times Last modified on Last modified on May 26 2021

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

About Medellin Herald

Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

Medellin Herald welcomes your editorial contributions, comments and story-idea suggestions. Send us a message using the "contact" section.

Contact US

logo def
Medellin Herald: Find news, information, reviews and opinion on business, events, conferences, congresses, education, real estate, investing, retiring and more.
  • COL (4) 386 06 27
  • USA (1) 305 517 76 35
  •  www.medellinherald.com 
  •  This email address is being protected from spambots. You need JavaScript enabled to view it. 
  • Medellin, Antioquia, Colombia

Medellín Photo Galery

Medellin, contrasting colors and styles by Gabriel Buitrago

MPGMPGMPGMPGMPGMPGMPGMPGMPGMPGMPGnav