Liquidated Telecom extends debt recovery deadline

Thursday, May 19, 2005

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.