WOM Colombia has outlined plans to launch 5G services, just a week after the company was bailed out by new investors.

In an interview with Forbes Colombia this week, the company's CEO said WOM will begin deploying its 5G network in the second half of the year.

"In the second half of the year we will be deploying the infrastructure,” said Ramiro Lafarga, CEO, WOM Colombia.

His comments come a week after SUR Holdings acquired the debt-ridden carrier, which is Colombia's fourth-largest mobile network operator.

The deal provides a lifeline for Colombia's fourth-largest mobile network operator, which filed for bankruptcy in April of last year, weeks after its Chilean counterpart.

Lafarga told Forbes that the company is in the middle of a reorganization process.

"With the new shareholder, we will have more resources to reach the break-even point sooner rather than later," he added.

Lafarga said the government support has been crucial for the carrier.

“We have made progress with the Ministry to agree on a delay in the payment of the 4G spectrum license fees, with interest indexed to a rate higher than inflation,” he said. “This gives us oxygen to make the company profitable.”

WOM was only launched as Colombia's fourth mobile network operator in 2020, backed by London-based investment fund Novator Partners.

The company said at the time that it would invest more than $1 billion into infrastructure projects in the country in the following five years.

The Colombian government granted a three-year grace period on spectrum payments, which will be paid off with interest from 2029. However, payments for the deployment and auction of 5G remain as normal.

At present, WOM serves around seven million mobile subscribers.

Claro is the country's largest carrier with 40.1 million customers, followed by Movistar (20.9 million) and Tigo (15.1 million).