Millicom Secures Full Control of Tigo Colombia with $571M Deal
Event summary
- Millicom wins EPM’s remaining 100% stake in UNE (Tigo Colombia) for COP 2.1 trillion ($571M).
- Transaction closes January 29, 2026, consolidating Millicom’s ownership to nearly 100%.
- Bid price: COP 418,741 per share, following public auction under Colombian Law 226.
- Simplified ownership structure to streamline operations and accelerate integration.
The big picture
Millicom’s full acquisition of Tigo Colombia marks a strategic consolidation in Latin America’s telecom sector, where operators are increasingly seeking scale to compete with regional giants. The $571M deal underscores Millicom’s commitment to strengthening its digital infrastructure footprint, particularly in high-growth markets like Colombia. The transaction also highlights the role of public auctions in reshaping ownership structures under local regulatory frameworks.
What we're watching
- Integration Pace
- How quickly Millicom can streamline operations and realize synergies post-acquisition.
- Regulatory Scrutiny
- Whether the deal faces further regulatory hurdles in Colombia.
- Market Positioning
- The impact of full ownership on Millicom’s competitive stance in Latin America.
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