Latest news with #Millicom
Time of India
22-05-2025
- Business
- Time of India
Telefonica sells Uruguay unit to Millicom for $440 million
MADRID: Spanish telecom company Telefonica said on Wednesday it agreed to sell its Uruguayan unit for $440 million to Luxembourg-based Millicom International as part of its strategy to exit Spanish-speaking Latin America. At the end of the transaction Millicom, which operates telecom companies all over Latin America under the brand Tigo, will buy 100% of Telefonica's Uruguay unit, Telefonica said in a statement. Telefonica did not specify whether the sale will imply a capital impairment on its accounts. The Spanish company has recently sold its business in Peru and Argentina as it opted to focus on Spain , Brazil, Britain and Germany. The company had to book an accounting loss of 1.7 billion euros ($1.93 billion) during the last quarter from the disposals in both South American countries.
Reuters
22-05-2025
- Business
- Reuters
Telefonica sells Uruguay unit to Millicom for $440 million
MADRID, May 21 (Reuters) - Spanish telecom company Telefonica ( opens new tab said on Wednesday it agreed to sell its Uruguayan unit for $440 million to Luxembourg-based Millicom International (MICC.F), opens new tab as part of its strategy to exit Spanish-speaking Latin America. At the end of the transaction Millicom, which operates telecom companies all over Latin America under the brand Tigo, will buy 100% of Telefonica's Uruguay unit, Telefonica said in a statement. Telefonica did not specify whether the sale will imply a capital impairment on its accounts. The Spanish company has recently sold its business in Peru and Argentina as it opted to focus on Spain, Brazil, Britain and Germany. The company had to book an accounting loss of 1.7 billion euros ($1.93 billion) during the last quarter from the disposals in both South American countries. ($1 = 0.8821 euros)
Business Upturn
21-05-2025
- Business
- Business Upturn
Millicom (Tigo) to Acquire Telefónica's Operations in Uruguay for USD 440 Million, Expanding Presence in South America
By GlobeNewswire Published on May 22, 2025, 01:45 IST Millicom (Tigo) to Acquire Telefónica's Operations in Uruguay for USD 440 Million, Expanding Presence in South America Key Highlights: Acquisition strengthens Millicom's presence and scale across South America. Expected to be EFCF accretive starting in 2026. Diversifies Millicom's cash flow sources in a country with a favorable macroeconomic outlook and investment-grade credit rating. Significant synergies anticipated across network, operations, and commercial integration. Positive market outlook supported by a stable regulatory environment and strong mobile market fundamentals, providing a solid foundation for sustainable growth. Luxembourg, May 21, 2025 — Millicom International Cellular S.A. ('Millicom') today announced it has entered into a definitive agreement to acquire 100% of Telefónica Móviles del Uruguay S.A. for an enterprise value of USD 440 million. This strategic acquisition aligns with Telefónica'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 transaction further diversifies Millicom's cash flow sources, reducing overall risk supported by Uruguay's stable macroeconomic environment and investment-grade credit rating (BBB+). The deal is expected to temporarily increase Millicom's leverage by approximately 0.1x. Strategic Rationale: Acquisition of a well-established, profitable mobile operator with nationwide coverage in Uruguay. Infrastructure and commercial synergies with Millicom's existing operations in Paraguay and Bolivia. Strengthens Millicom's digital ecosystem, enabling enhanced bundling and service innovation. Reinforces Millicom's mission to accelerate digital inclusion and sustainable development in Latin America. Marcelo Benitez, CEO of Millicom, stated: 'This acquisition represents a key milestone in our purposeful growth strategy across Latin America — especially in Uruguay, a country with strong fundamentals and a forward-looking digital agenda. We are committed to being a long-term partner in Uruguay's digital development by investing in mobile infrastructure, improving service quality, and fostering innovation and talent development.' The transaction remains subject to customary closing conditions, including regulatory approvals. Country Profile: Uruguay Highest GDP per capita in Latin America at USD 22,400 (2024), with a stable currency and investment-grade economy (BBB+). Politically and institutionally stable, offering a favorable regulatory environment for foreign investment. Telecommunications market includes three mobile network operators and a competitive fixed-line and pay TV landscape. Telefónica Uruguay is the second-largest mobile operator, operating in a stable and growing market. Mobile market growing approximately 4% annually since 2022, driven by rising postpaid adoption and the region's highest ARPU. Regulatory focus remains on quality of service and universal access. -END- For further information, please contact: 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. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
21-05-2025
- Business
- Yahoo
Millicom (Tigo) to Acquire Telefónica's Operations in Uruguay for USD 440 Million, Expanding Presence in South America
Millicom (Tigo) to Acquire Telefónica's Operations in Uruguay for USD 440 Million, Expanding Presence in South America Key Highlights: Acquisition strengthens Millicom's presence and scale across South America. Expected to be EFCF accretive starting in 2026. Diversifies Millicom's cash flow sources in a country with a favorable macroeconomic outlook and investment-grade credit rating. Significant synergies anticipated across network, operations, and commercial integration. Positive market outlook supported by a stable regulatory environment and strong mobile market fundamentals, providing a solid foundation for sustainable growth. Luxembourg, May 21, 2025 — Millicom International Cellular S.A. ('Millicom') today announced it has entered into a definitive agreement to acquire 100% of Telefónica Móviles del Uruguay S.A. for an enterprise value of USD 440 million. This strategic acquisition aligns with Telefónica'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 transaction further diversifies Millicom's cash flow sources, reducing overall risk supported by Uruguay's stable macroeconomic environment and investment-grade credit rating (BBB+). The deal is expected to temporarily increase Millicom's leverage by approximately 0.1x. Strategic Rationale: Acquisition of a well-established, profitable mobile operator with nationwide coverage in Uruguay. Infrastructure and commercial synergies with Millicom's existing operations in Paraguay and Bolivia. Strengthens Millicom's digital ecosystem, enabling enhanced bundling and service innovation. Reinforces Millicom's mission to accelerate digital inclusion and sustainable development in Latin America. Marcelo Benitez, CEO of Millicom, stated: 'This acquisition represents a key milestone in our purposeful growth strategy across Latin America — especially in Uruguay, a country with strong fundamentals and a forward-looking digital agenda. We are committed to being a long-term partner in Uruguay's digital development by investing in mobile infrastructure, improving service quality, and fostering innovation and talent development.' The transaction remains subject to customary closing conditions, including regulatory approvals. Country Profile: Uruguay Highest GDP per capita in Latin America at USD 22,400 (2024), with a stable currency and investment-grade economy (BBB+). Politically and institutionally stable, offering a favorable regulatory environment for foreign investment. Telecommunications market includes three mobile network operators and a competitive fixed-line and pay TV landscape. Telefónica Uruguay is the second-largest mobile operator, operating in a stable and growing market. Mobile market growing approximately 4% annually since 2022, driven by rising postpaid adoption and the region's highest ARPU. Regulatory focus remains on quality of service and universal access. -END- For further information, please contact: Press: Investors: Sofia Corral, Director Corporate Communications press@ Michel Morin, VP Investor Relations investors@ 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, in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
Millicom (Tigo) cancels 3,096,305 treasury shares
Millicom (Tigo) cancels 3,096,305 treasury shares Luxembourg, May 21, 2025 – The Board of Directors of Millicom International Cellular S.A. ('Millicom' or the 'Company') approved the cancellation of 3,096,305 shares that will not be used for compensation programs, pursuant to the authorization granted by the extraordinary general meeting of shareholders held today and the share repurchase plan approved by the annual general meeting of shareholders held on May 23, 2024. As a result, the Company's issued share capital will be reduced to USD 253,500,000, represented by 169,000,000 shares. Article 5 of the articles of association of Millicom will be amended as follows: "The Company has an issued capital of two hundred and fifty-three million five hundred thousand United States dollars (USD 253,500,000) represented by one hundred and sixty-nine million (169,000,000) shares with a par value of one United States dollar and fifty cents (USD 1.50) each, fully paid-in.' -END- For further information, please contact: Press: Investors: Sofia Corral, Director Corporate Communications press@ Michel Morin, VP Investor Relations investors@ 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, in to access your portfolio
