Universo Online expands in Colombia, Venezuela

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SAO PAULO--Universo Online is strengthening its activities in Colombia and Venezuela through a series of joint ventures.

In Colombia, UOL has joined forces with Grupo Bavaria, the holding company for TV and radio stations Caracol and the daily newspaper El Espectador. The group will provide content for the portal and will take a 33% share in UOL Colombia, which launched in December. UOL Colombia will also absorb local access provider Latinonet, which has 10,000 clients.

In Venezuela, UOL has formed a joint venture with leading newspaper El Universal, which will supply content in exchange for a 40% stake in the local venture.

UOL operates in Argentina, Brazil, Colombia, Chile, Spain, Mexico, Venezuela and the U.S.

Copyright February 2000, Crain Communications Inc.

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