Millicom (Tigo) Strengthens South American Leadership with USD 380 Million Acquisition of Telefónica Ecuador
Key Highlights:
The acquisition reinforces Millicom's strategic position and operating scale in Latin America, strengthening its platform for long-term regional growth.
The acquisition also enhances Millicom's geographic diversification, with the addition of Ecuador — a stable, dollarized economy with a supportive macroeconomic outlook — strengthening overall cash flow resilience.
Ecuador's telecom sector shows consistent growth and regulatory momentum, offering a solid runway for long-term expansion and innovation.
Luxembourg, June 13, 2025 – Millicom International Cellular S.A. ('Millicom') has signed a definitive agreement to acquire Telefónica's telecommunications operations in Ecuador in a transaction valued at USD 380 million. This acquisition aligns with Telefónica's broader strategy to reshape its portfolio in Latin America and presents Millicom with a strategic opportunity to strengthen its presence in South America, expanding into a stable, dollarized economy with favorable macroeconomic fundamentals.
The deal significantly enhances Millicom's regional footprint and commercial reach, laying the foundation for innovation, digital inclusion, and sustained long-term growth. Ecuador's telecommunications sector — supported by consistent expansion in mobile and broadband services and an engaged regulatory environment — offers a compelling platform for Millicom to drive digital transformation.
Marcelo Benitez, CEO of Millicom, commented: "This acquisition reflects our long-term confidence in Latin America and our commitment to purposeful, sustainable growth. Ecuador offers a dynamic and growing digital market within a stable, dollarized economy, making it a natural fit for Millicom's strategy. By expanding our presence in South America, we strengthen our platform for innovation, diversification, and long-term value creation.'
The transaction is subject to regulatory approvals and other closing conditions.
Ecuador Profile:
Ecuador has a population of approximately 18.5 million (2025 est.), with a median age of 32.4 and 66% living in urban areas.
Dollarized, open economy with resilience across energy, agriculture, and services. The fiscal deficit dropped from 3.5% to 1.4% of GDP in one year, while reserves increased by USD 2.4 billion. Backed by a USD 4 billion IMF facility, Ecuador is strengthening its macroeconomic stability without cutting social spending.
IMF and World Bank-supported reforms are enhancing transparency, governance, and private-sector conditions, especially in infrastructure, energy, and telecom.
Telefonica Ecuador ranks second in mobile in a fragmented telecom landscape.
Mobile and broadband markets show consistent growth: +1.4% mobile, +3.6% fixed broadband.
Telecom´s sector demonstrated resilience through recent economic volatility.
-END-
For further information, please contact:
Press:
Investors:
Sofia Corral, Director Corporate Communications press@millicom.com
Michel Morin, VP Investor Relations investors@millicom.com
About MillicomMillicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO® and Tigo Business® brands, the company provides a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2025, Millicom, including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
Crypto market sees $1B getting 'rekt' as prices pull back from highs
Crypto market sees $1B getting 'rekt' as prices pull back from highs originally appeared on TheStreet. The crypto market is reeling after a sharp pullback wiped out over $1.05 billion in leveraged positions in the past 24 hours. According to Coinglass data, 219,682 traders were liquidated, with longs bearing the brunt — accounting for more than $778 million of the total. The largest single liquidation was a $10 million BTC-USD position on Bybit. Bybit led in total liquidations with $447 million, followed by Binance with $264 million and OKX with $126 million. Bitcoin (BTC) is now trading at $118,718, down 1.5% in the past 24 hours after recently hitting record highs above $124,000. Its market cap sits at $2.36 trillion. Ethereum (ETH) fell 3.4% to $4,547, while XRP slipped 5.2% to $3.11. Other major altcoins also saw losses, with Solana (SOL) down 4.2% to $193.60 and BNB down 2.3% to $833.84. The sell-off follows days of euphoric gains that pushed Bitcoin past Google in market capitalization earlier this week. Jessy Gilger, CFP, Senior Advisor at Sound Advisory (the financial planning and investment arm of Unchained), says the latest move fits squarely within Bitcoin's historical growth pattern, but with one key difference that could make this cycle even stronger: 'Every Bitcoin cycle has followed the same pattern: consolidation, expansion, peak, and retrace, with each peak rising materially above the last. This cycle is tracking closely to that model. But with this year's supply issuance cut in half and institutional demand stronger than ever, the runway for record growth is wide open." Ethereum is riding the same bullish wave. As ETH approaches an all-time high, Thomas Perfumo, Global Economist at Kraken, notes: "ETH has surged to its first new all-time high since 2021, lifting Bitcoin and other major altcoins alike. The rally marks ETH's first sustained run of outperformance in years, fueled by aggressive institutional inflows." He added: "Corporate treasuries and spot ETH ETFs now control more than 8% of the circulating supply—almost double their stake from just two months ago—creating a supply squeeze that has amplified the latest move higher. Leading the charge is Bitmine, now ETH's largest single holder, which recently filed to expand its at-the-market equity offering by $20 billion, arming it with additional dry powder to accelerate accumulation." Crypto market sees $1B getting 'rekt' as prices pull back from highs first appeared on TheStreet on Aug 14, 2025 This story was originally reported by TheStreet on Aug 14, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Hypebeast
42 minutes ago
- Hypebeast
The TELFAR "Plastic Bag" Couldn't Be More TELFAR
TELFARhas unveiled the latest addition to its growing handbag repertoire: the TELFAR Plastic Bag. The new silhouette is entirely unique from the classic 'TELFAR Shopping Bag', yet it's in no way unfamiliar. The bag, inspired by single-use plastic bags commonly found in bodegas and liquor stores in NYC, embodies TELFAR's democratic ethos. Being 'for everybody' has been a part of the brand's DNA since its inception in 2004 in Brooklyn by Telfar Clemens. Available in eleven nostalgic New York TELFAR prints and 2 sizes, the design is an expressive departure from the relatively minimal Shopping Bag. The double-lined waterproof exterior boasts a plastic-like sheen, and ruched elastic handles add a TELFAR design touch. Two deep side pockets inside are large enough to fit a water bottle and are supplemented with a zip pocket, slit pocket, and hidden stash pocket. The regular, big enough to hold a 13-inch laptop, is priced at $148 USD, while the carry-on-sized jumbo is $195 USD. The brand's 'for everybody' mantra has also informed its subversive slant, manifesting in playful anti-fashion stunts and unconventional approaches to distribution that prioritize access to all. In June, TELFAR hosted its20th anniversary runwayshow on a SoHo side street, holding an open casting call for the presentation just weeks before. The Plastic Bag and a capsule of matching tees will be released exclusively on the TELFARwebstoreon August 15 and in-store at 408 Broadway, New York City, next week.
Business Wire
an hour ago
- Business Wire
Philips Announces Plan for More Than USD 150 Million of New Investment in Manufacturing and R&D in the U.S. to Expand Production of AI-powered Health Technology Innovations
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Philips, a global leader in health technology, today announced a plan for new investments of more than USD 150 million in U.S. manufacturing and research and development (R&D). As part of today's announcement, Philips unveiled the expansion of its Reedsville, PA, manufacturing facility, which produces AI-enabled ultrasound systems for hospitals across the U.S. These investments come on top of Philips' annual USD 900 million R&D investment in the U.S. as well as investments in nearly 17,000 colleagues across 40 facilities in the United States. Philips has employees in every U.S. state supporting innovations used by clinicians and patients in 90% of hospitals across the country. The investment announced today by Philips includes the expansion of its Reedsville, PA, site and the recently announced expansion of Philips' Image Guided Therapy facility in Plymouth, MN. It also includes additional manufacturing and R&D projects which will come over the next several years to support the company's growth in the U.S. The Reedsville site, which currently manufactures transducers, will also customize the software and configurations of ultrasound systems for specific clinical procedures in cardiovascular, general and maternal care following the expansion. As an example, Philips' industry-leading CV ultrasound platform delivers advanced tools to help doctors diagnose structural heart and coronary artery disease quickly and confidently [1]. 'The proposed planned expansion of our manufacturing facilities is a demonstration of our deep commitment to the U.S. region,' said Jeff DiLullo, Chief Region Leader, Philips North America. 'Each year, Philips spends $900 million in R&D in the U.S. to drive innovation and deliver cutting-edge technology that empowers healthcare professionals to diagnose, treat and monitor patients more effectively. Increasing our manufacturing and R&D capabilities will create jobs and accelerate our ability to deliver better care for more people with innovative AI-enabled solutions.' The expansion of the Reedsville site is expected to add 24,000 square feet of manufacturing space in addition to 40,000 square feet of warehouse space and is expected to create 120 skilled manufacturing jobs. The recently announced expansion of Philips' image-guided therapy facility in Plymouth, MN, which includes the construction of a new medtech training center, is expected to create over 150 new jobs. [1] Philips ultrasound: The next dimension in echocardiography About Royal Philips Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips' patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2024 sales of EUR 18 billion and employs approximately 67,300 employees with sales and services in more than 100 countries. News about Philips can be found at Forward-looking statements and other important information This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips' organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements. This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
