Liquidated Telecom extends debt recovery deadline

- Thursday, May 19, 2005

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Telecom en Liquidación, an entity representing Colombia's liquidated state telco Telecom, has extended to May 31 the deadline for former clients to pay outstanding bills, the government said in a statement.

The original deadline was May 17, and the firm was offering the former owners of nearly 200,000 lines the chance to re-negotiate debts totaling at least 88bn pesos (US$37mn).

Launched mid-April, the debt recovery program resulted in payments of 1.2bn pesos by May 10.

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Telecom was liquidated in July 2003, its assets taken over by a new state operator Colombia Telecomunicaciones, which continues to use the Telecom brand name.

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