Foreign investment in an enterprise holding a television concession is subject to a reciprocity condition.
"ARTICLE 1. Article 34 of Law 182 of 1995 will read as follows: Foreign investment is authorized in television concession companies, regardless of their territorial scope, up to forty percent (40%) of the total share capital of the concessionaire.
The country of origin of the investor must offer the same investment possibility to Colombian companies under reciprocal conditions and will imply a transfer of technology that, according to the analysis carried out by the National Television Commission, contributes to the development of the national television industry. TV.
Foreign investment may not be made through companies with bearer shares. The investment of a company whose partners are companies with bearer shares will not be accepted.[...]" (Law no. 680 ameding Laws 14 of 1991, 182 of 1995 and 335 of 1996 and issuing other provisions on television (8 August 2001), last amended on 9 June 2015, Article 1 [google translation])
Law no. 680 ameding Laws 14 of 1991, 182 of 1995 and 335 of 1996 and issuing other provisions on television (8 August 2001), last amended on 9 June 2015, Article 1
[<a href="http://www.secretariasenado.gov.co/senado/basedoc/ley_0680_2001.html">Law</a>]