Millicom to acquire Telefonica Moviles del Uruguay for $440M

Millicom (TIGO) announced it has entered into a definitive agreement to acquire 100% of Telefonica Moviles del Uruguay for an enterprise value of $440M. This strategic acquisition aligns with Telefonica’s regional repositioning and enables Millicom to consolidate its leadership position in South America. Millicom expects the transaction to be EFCF accretive as early as 2026, driven by operational efficiencies and integration with its existing regional footprint. Upon closing, the company anticipates immediate scale benefits, enhanced synergies, and long-term value creation across its Latin American platform. The deal is expected to temporarily increase Millicom’s leverage by approximately 0.1x. The transaction remains subject to customary closing conditions, including regulatory approvals.