Italy led through Pellegrino Cimò in the 43rd minute. Cabezas equalised for Colombia in the 62nd. Neither side scored in extra time.
Colombia’s successful penalty takers were Viáfara, Loboa, Torres, Arboleda, Cortés and Martínez in the sequence that delivered a 4-3 shoot-out win. Italy’s takers included Langella, Fadda, Ventriglia, Bressan, Gallo and Venturelli.
Both teams had lost their semi-finals. DPR Korea beat Colombia 3-0 on 23 September. Spain beat Italy 2-0. Spain and DPR Korea contest Sunday’s final at the same stadium.
Colombia’s path to the podium included a 1-0 round-of-16 win over hosts Poland, a 1-0 quarter-final victory over Nigeria through Valerin Loboa’s stoppage-time goal, then the semi-final defeat to the Koreans. They had advanced from Group E as one of the best third-placed sides after a 3-1 win over Costa Rica, a 0-0 with Portugal and a 0-3 loss to DPR Korea.
Italy reached the last four by beating China PR on penalties in the round of 16 and Korea Republic 3-1 in the quarter-finals, with Karen Appiah scoring twice.
The bronze match was the last fixture before the final. Colombia leave Poland with a medal after a campaign that included knocking out the hosts and Nigeria. Italy finish fourth after a run that ended one step short of the title match.
Sunday’s final: Spain v DPR Korea, 12:00 local time in Łódź.