The Superintendency of Companies admitted the request for reorganization of the telecommunications operator WOM after the financial problems it presented in recent years. In this regard, the former ICT Minister Carmen Ligia Valderrama shed light in Blu 4.0 on how the process of this company is progressing.
The admission of the request by the Superintendence of Companies means that all debts and obligations of WOM, until the date of May 2, 2024, are included in this reorganization process, including embargoes.
“He appointed the promoter who will be the leader of the reorganization process. He did not name the legal representative of the company, which is one of the options, but rather an external third party. And the company is also ordered to refrain from carrying out, without the authorization of the superintendency, any type of disposal, contracting or development of the business“he added to the former minister.
And the users?
According to Carmen Ligia Valderrama, WOM users are the “least to worry about” during this processTherefore, the superintendency accepted the telecommunications company for its reorganization taking into account that it meets a fundamental condition: the company is viable and can stabilize in the face of the financial crisis.
That is, the services by WOM should continue to be presented without any impact on its users. Although the former minister did not dare to say how long the reorganization of the company will take, she stated that the Government does recognize its importance in the communications sector in the country. He even stated that he maintains the majority of his users.
“To date I have been verifying just over six million users, who are the ones who have WOM, are still with them, Even though the process was presented in April, the request, since as of June we still have more than six million users and they continue to receive their service, and it is the obligation and duty of WOM,” added the former minister.
Commitment to 5G
The former head of the ICT portfolio pointed out that the Superintendence of Companies also has another task to carry out and that is related to the contract of the 5G spectrum that was subscribed at the end of 2023, where WOM also participated with 300,000 million pesos.
“Today WOM information is totally transparent. They had to present financial statements, including an action plan of how they intend to get out of this crisis. (…) So it seems that they will continue to fulfill those obligations. However, let’s say that those that are backwards, since they are already part of the reorganization process, we will have to wait for the decision of the Superintendency of Companies to know how to address this situation, which is not a minor situation,” concluded Carmen Ligia Valderrama. .
