Millicom announces winning bid for EPM stake in UNE EPM Telecommunicaciones

Millicom (TIGO) announced that it has been awarded 100% of EPM’s remaining shares in UNE EPM Telecommunicaciones following a winning bid in the public auction conducted by Empresas Publicas de Medellin. Millicom’s bid was COP 418,741 per share, representing a total consideration of approximately COP 2.1T, or $571M. This acquisition consolidates Millicom’s ownership in UNE to nearly 100%, following the successful completion of the public divestment process managed by EPM in accordance with Colombian Law 226. The transaction is expected to close on January 29, in accordance with the established auction rules.