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March 19, 1997updated 05 Sep 2016 1:07pm


By CBR Staff Writer

BellSouth Corporation announced Tuesday it has taken a 61% stake in OTECEL SA, an Ecuadorian wireless telephone company which serves more than 30,000 customers, or just over half of the country’s market share. BellSouth acquired its majority stake by purchasing all of the shares of the company’s two largest shareholders. Financial terms were not disclosed. This deal comes fast on the heels of BellSouth’s acquisition of 49% of Telefonica Celular de Nicaragua, announced Friday. With this latest purchase, BellSouth currently has operations in eight Latin American countries.

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