América Móvil and Telefónica face $1.5bn fine in Colombia
A Colombian court that has imposed a $1.55bn fine on Claro and Telefónica is offering to let the operators pay in instalments.
A Colombian newspaper, Portfolio, reported by BNAmericas, says anonymous sources in government are open to the possibility of negotiating the terms.
Otherwise the two companies are due to pay the full fine of 4.7 trillion pesos on Tuesday 15 August.
The ruling, imposed in July, says that Claro, owned by América Móvil, and Telefónica’s Movistar operation have to pay for the use of public infrastructure and assets, citing a 1994 contract. The agreement originally expired in 2004, says BNAmericas, but was extended until 2013.
América Móvil is liable to two-thirds of the fine, say the reports from Bogotá.
BNAmericas also quotes a report from Spain’s El País newspaper that Telefónica is seeking to appeal to the World Bank’s International Centre for Settlement of Investment Disputes, claiming that the fine violates agreements between Colombia and Spain.