 The headquarters of the new company were located on 8th avenue and 20th street, where the principal offices of the company were located.Although the concession offered for the exploitation of service to The Bogota Telephone Company was for 50 years, the continuous protests by the rate increases led the Council to decide that the municipality should acquire the Company.Thus, since 1932 the Administration of the city assumed control of the service of phone system and in 1940, by means of agreement 79 of the Council, the Telephone Company of Bogotá was created, a decentralized company and a hundred percent city-owned.