Millicom acquires remaining 32.5% equity stake in Colombia Telecomunicaciones

Millicom (TIGO) announced it has acquired the remaining 32.5% equity stake in Colombia Telecomunicaciones formerly held by La Nacion. This milestone follows the conclusion of the tender offer for Telefonica’s controlling stake in February and marks the final step in Millicom’s strategic consolidation of the entity. The company said, “The acquisition represents a decisive moment for the Colombian telecommunications sector. By integrating Coltel fully into its operations, Millicom is creating a large-scale, financially viable operator with the enhanced investment capacity required to accelerate the country’s digital transformation. The consolidation delivers the scale needed to accelerate nationwide 5G deployment, enhance service quality through combined technical capabilities, and support government efforts to expand digital inclusion-ultimately providing faster, more reliable connectivity and a more seamless digital experience for millions of Colombians. The transaction takes place in an evolving competitive landscape, where traditional operators compete with global digital platforms, satellite providers, and other connectivity players. Scale, investment capacity, and operational efficiency are key to remaining competitive.”