Latest news with #Tigo
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)
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
24-03-2025
- Business
- Yahoo
Tigo Energy Welcomes Delta Networks as Latest Rapid Shutdown Technology Licensee
Intellectual Property (IP) license agreement enables Delta to integrate advanced safety technologies from Tigo into its module-level solar rapid shutdown product line CAMPBELL, Calif., March 24, 2025--(BUSINESS WIRE)--Tigo Energy, Inc. (NASDAQ: TYGO) ("Tigo"), a leading provider of intelligent solar and energy software solutions, today announced that Delta Networks, a global provider of power and thermal management solutions, has licensed Tigo rapid shutdown technology for its rapid shutdown products. Under the agreement, Delta products are authorized to use technologies described in various Tigo patents related to rapid shutdown. Tigo is a leader in rapid shutdown technology and Module Level Power Electronics (MLPE), with more than one hundred fifty (150) patents granted or pending, actively licenses its patented technology to other solar equipment manufacturers and has prevailed in multiple patent disputes. Tigo rapid shutdown technology is compliant with UL 1741, the Standard for Safety for Inverters, Converters, Controllers, and Interconnection System Equipment for Use With Distributed Energy Resources, IEC 63257, and rapid shutdown requirements of the U.S. National Electric Code (NEC). Millions of Tigo MLPE products are installed worldwide, providing optimized, monitored, and safe solar to protect critical solar energy infrastructure and deliver consistent ROI for the lifetime of renewable energy systems. "We are delighted to see Delta join the growing group of forward-thinking companies that recognize the importance of innovation and safety in the solar industry," said Zvi Alon, chairman and CEO at Tigo. "This license agreement reinforces our commitment to advancing solar energy with cutting-edge solutions that prioritize safety, reliability, and performance. We look forward to expanding the reach of our patented technologies, driving progress, and creating greater value for solar installers and system owners worldwide." For more information about the portfolio of Tigo Flex MLPE solutions, please visit the Tigo website and keep up with the latest news by signing up for the Tigo newsletter here. About Tigo Energy Founded in 2007, Tigo Energy, Inc. (Nasdaq: TYGO) is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The company also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit View source version on Contacts Contact Information Media Relations Contact: Technica CommunicationsLuis de Leontigoenergy@ Investor Relations Contact: Gateway GroupRalf Esper(949) 574-3860TYGO@ Sign in to access your portfolio
