KT Corp. is keen to acquire a stake in Empresa de Telecomunicaciones de Bogot S.A. E.S.P. (ETB), newspaper La Repblica reported. Korea's deputy land, transport and maritime affairs minister Kwon Do-Youp said: "Korea Telecom is interested in having a subsidiary in Bogot. This is why the company is looking to become ETB's strategic partner." ETB is looking for a partner to bring in more capital in order to better compete in the increasingly competitive telecoms market. Telefonica SA and Telefonos de Mexico, S.A.B. de C.V have also shown interest in the process. Interested companies should have reported at least $1 billion in revenues in the last fiscal period and must have at least 1.5 million fixed lines or 5.0 million mobile lines in service, as well as a minimum of 100,000 internet accesses. According to media reports, ETB hopes to select its strategic partner in July.

Telefonica SA announced earnings results for the fourth quarter of 2009. The company reported net profit for the fourth quarter rose 22.2% to 2.44 billion ($3.01 billion), against 2.0 billion in the same period a year ago. Revenue for the period rose 1.2% to 14.98 billion, against 14.8 billion in the same period a year ago.

Telefonica SA announced financial results for the year of 2009. For the year, the company reported that business portfolio enabled the group to achieve revenues of 56,731 million, decrease of 2.1% year-on-year. Free cash flow generated by the company reached 9,097 million. CapEx reached 7,257 million, decrease of 11.1% on year-on-year basis. Operating cash flow (OIBDA-CapEx) stood at 15,346 million, up 8% year-on-year in organic terms. This performance was driven by strong growth at Telefonica Latinoamerica 29.8% in organic terms 5,693 million) and at Telefonica Europa 21.7% in organic terms, 2,183 million. Consolidated revenues were 56,407 million and consolidated OIBDA was 22,344 million. The company provided earnings guidance for the year of 2010. For the year, the company expects to obtain basic EPS of 2.10 per share and to maintain its shareholder remuneration policy with increased dividends of up to at least 1.75/share in 2012. The company expects CapEx in a range of 7,650 million. The company expects revenues to increase in a range of 1% to 4% and OIBDA in a range of 1% to 3% basing upon consolidated revenues of 56,407 million and consolidated OIBDA of 22,344 million of the year of 2009.