ATIS Group to Acquire Lati Paraguay from Millicom, Expanding Tower Footprint in the Southern Cone

Business Wire

08-05-2025

BUENOS AIRES, Argentina--(BUSINESS WIRE)--ATIS Group ('ATIS'), a leading digital infrastructure provider in Latin America, today announced that it has entered into a definitive agreement, signed on April 26, 2025, with Millicom (NASDAQ: TIGO) to acquire Lati Paraguay, a subsidiary owning approximately 300 wireless communications towers in Paraguay.
This transaction marks another milestone in ATIS's strategic expansion across the Southern Cone, reinforcing its position as the region's premier independent tower company.
As part of the agreement, ATIS and Tigo Paraguay have also entered into a long-term leaseback arrangement, under which ATIS will lease tower infrastructure to Tigo Paraguay to continue supporting its mobile network operations. The final number of towers covered under the leaseback will be determined at the time of closing, which is expected to take place in the near term.
'ATIS seeks to develop, own and operate best-in-class mission-critical assets such as wireless telecommunications towers,' said Juan Pablo Blanco, CEO of ATIS Group. 'This acquisition – along with prior ones from Telefónica Uruguay and SBA in Argentina – underscores ATIS' commitment to the Southern Cone region of Latin America. This important agreement with Tigo is in line with our strategy of long-term partnerships with leading wireless communications operators in the region.'
Since the majority acquisition by Towerco Investments LLC in 2022, ATIS has grown from managing 185 sites in Argentina to operating over 1,000 sites across Argentina, Uruguay, and now Paraguay. The acquisition of Lati Paraguay marks the next chapter in ATIS's mission to deliver future-ready infrastructure that meets the region's accelerating connectivity needs.
Advisors
Aldo J. Polak acted as financial advisor to ATIS. Daniel Hartstein of Szenberg & Okun PLLC and Estudio Gross Brown served as legal counsel to ATIS. Millicom was represented by Winston & Strawn LLP and BKM | Berkemeyer.
About ATIS Group
Founded in 2016 in Argentina, ATIS Group is the leading independent tower company operating across the Southern Cone of Latin America. With a growing portfolio of digital infrastructure assets and long-term partnerships with leading mobile network operators, ATIS plays a central role in advancing connectivity and enabling digital transformation across the region.
About Millicom
Millicom (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.