noticias el colombiano

Bancolombia reported disruptions to some of its app services on Monday, February 23, 2026, at 4:37 p.m. Local time, informing users via X that its teams were working to resolve the issues. While not a complete system outage, the bank acknowledged that only a limited number of transactions were currently being processed.

According to a statement released by Bancolombia, the following services remained operational: transfers to both registered and unregistered Bancolombia accounts, and the ability to consult account balances and transaction history. The bank clarified that total balances displayed would include funds held in “bolsillos,” or pockets, a feature allowing users to allocate funds for specific savings goals.

Bancolombia also confirmed that debit and credit card payments at commercial establishments were unaffected, and that cash withdrawals remained possible through ATMs and banking correspondents. The bank pledged to keep users informed of progress toward full service restoration.

The disruptions come after Bancolombia transitioned its “Personas” app to the new “Mi Bancolombia” app earlier in 2025, a move that had already seen over 4.3 million active users as of March 24, 2025, according to reporting by Caracol. The new app, available on both Google Play and the App Store, offers a range of features including account opening, gift transfers with customizable cards, online credit card applications, savings tools, bill payments, and investment options. The Mi Bancolombia app currently has a rating of 3.2 on the App Store, with some users reporting usability issues as early as April 25, 2025.

In light of the service disruptions, Bancolombia reiterated its standard security advice, warning customers not to share their PINs, tokens, SMS codes, or dynamic keys. The bank emphasized that it never requests passwords via phone, WhatsApp, or email, and advised users to disregard and verify any suspicious messages claiming to be from Bancolombia through official channels.

Colombia’s telecommunications market underwent a significant shift on February 4, 2026, as Tigo completed its acquisition of Movistar, creating the nation’s second-largest operator. The merger concentrates approximately 90% of the market share between Claro and the newly formed entity, sparking concerns about a potential duopoly and reduced competition, according to reporting from ColombiaOne and LaFM.

The Superintendencia de Industria y Comercio (SIC) conditionally approved the merger in November, aiming to counterbalance Claro’s dominant position, which held 45% of market revenue as of late 2024. The transaction, valued at over $200 million, according to Infobae, marks the end of Movistar’s independent operation in Colombia. Millicom, the owner of Tigo, now controls both companies.

Data from the Superintendencia de Sociedades, cited by El Espectador, reveals that at the close of 2024, Claro controlled 59% of mobile operator revenue, followed by Tigo with 19% and Movistar with 15%. Jennifer Pedraza Sandoval, a representative for the political movement, warned that the integration would significantly increase the Herfindahl-Hirschman Index (HHI), a measure of market concentration, to 6,258 points. A score approaching 10,000 indicates a near monopoly. “If Tigo is allowed to absorb Movistar, Colombia would become the country with the highest levels of concentration in telecommunications in Latin America and the OECD,” she stated.

The consolidation occurs in a country where only 63% of households have internet access, according to a 2023 OECD study. The OECD has cautioned that mergers in mobile markets often lead to price increases, though the impact on investment and quality is more demanding to assess. The organization also highlighted that the entry of a fourth operator, as seen in Chile, France, Italy, and Mexico, resulted in lower prices and improved service.

While proponents of the merger suggest it will foster competition through a “battle of giants,” critics fear the creation of a duopoly that will leave 90% of users reliant on only two providers. Martha Jiménez Muñoz, a law professor at the Universidad de Santander, warned of potential consequences including price increases, reduced service quality, limited consumer choice, and predatory practices. Jaider Morales, a researcher at the Universidad Externado de Colombia, echoed these concerns, noting the potential for bundled services and restrictions on independent product selection.

Prior to the acquisition, Tigo held 21.59% of the mobile market, while Movistar controlled 16.84%. Combined, they represent approximately 38% of the market, trailing Claro’s 51.65% share as of December 2024. The merger promises potential efficiencies through infrastructure consolidation and cost reduction, which could translate into increased investment in rural coverage, improved service quality, and faster 5G deployment. However, Morales cautioned that fewer major players could diminish competitive pressure.

The acquisition particularly impacts WOM, the third-largest operator with 7% of the market, and Virtual Mobile Operators (VMOs), which lease network access from larger providers. The novel entity now controls 100% of the National Automatic Roaming provision, essential for users to connect when their primary operator lacks coverage. Representative Pedraza added that the duopoly “virtually liquidates minor operators that do not reach even 1% of the market, such as ETB,” the Bogota public company, which saw an 11% decline in revenue by December 2024.

The SIC imposed conditions to mitigate potential anti-competitive effects, including maximum roaming access rates and restrictions on marketing campaigns targeting smaller competitors’ customers. The agency concluded that the integration fundamentally alters the market structure and eliminates rivalry between two significant competitors, identifying risks of coordinated effects and increased concentration in fixed internet, voice, and bundled services.

Darío Felipe Jiménez, a professor at the Universidad EIA, argued that the increased market concentration may not incentivize private investment in infrastructure and innovation, potentially increasing reliance on public funding for rural connectivity projects.

Despite concerns, Minister of ICT Karina Murcia dismissed the notion of a duopoly, stating in a W Radio interview that the process is subject to “vigilance and precise conditions.” She emphasized that the investment aims to improve quality and expand connectivity in underserved regions. She also asserted guarantees for smaller operators to compete fairly and maintain price stability.

Millicom celebrated the merger in a statement, asserting it would “strengthen Colombia’s telecommunications sector by creating a financially sound operator with the scale and investment capacity needed to implement crucial improvements in networks, spectrum, and technology.” The company acquired 67.5% of Movistar from Telefónica for $214.4 million and full control of Tigo-Une for $569 million from EPM, and plans to acquire the remaining 32.5% of Movistar currently held by the Ministry of Finance.