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Millicom (Tigo) Reaches Strategic Agreement with EPM to facilitate Merger Process with ColTel

1. Millicom signed an agreement with EPM for strategic acquisition plans. 2. Minimum price set at COP$418,741 per share for Tigo-UNE, totaling USD $520 million. 3. EPM secures exit rights if acquisition fails due to external factors. 4. Future merger plans between Tigo-UNE and ColTel are now more feasible. 5. Millicom reaffirms commitment to long-term investment in Colombia.

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FAQ

Why Bullish?

The strategic agreement enhances Millicom's market position, similar to past successful mergers that boosted stock values.

How important is it?

The agreement is a key step in a significant acquisition process, likely influencing investor sentiment.

Why Long Term?

Successful completion may lead to improved financial performance and increased market share, affecting long-term stock trends.

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Millicom (Tigo) Reaches Strategic Agreement with EPM to facilitate Merger Process with ColTel Luxembourg, August 14, 2025 – Millicom (Tigo) today announced a key agreement with Empresas Públicas de Medellín (EPM) that advances its acquisition strategy in Colombia and unlocks a path toward the integration of Tigo-UNE and Colombia Telecomunicaciones (ColTel). Under the terms of the agreement: Millicom has committed to present an offer in EPM’s Law 226 sale process, subject to the terms published by EPM on July 1, 2025, in which EPM set a minimum price of COP$418,741 per share of Tigo-UNE, representing a total consideration of approximately USD $520 million. The agreement includes customary legal protections and EPM secured an extension of its existing exit rights if the Law 226 sale process does not succeed due to external factors. Should EPM remain a shareholder of Tigo-UNE due to an unsuccessful Law 226 sale process, EPM has agreed to provide consent for the proposed future merger between Tigo-UNE and ColTel, subject to certain closing conditions. As part of the transaction, Millicom will re-include Tigo-UNE in Millicom’s Restricted Group, reflecting the company’s renewed strategic commitment to the market. “This agreement marks an important milestone for Millicom’s strategy in Colombia”, said Marcelo Benitez, CEO of Millicom. “We are moving decisively with our integration plans while reaffirming our commitment to long-term investment in Colombia’s digital ecosystem and infrastructure” -END- For further information, please contact: Press: Investors: Sofia Corral, Director Corporate Communications press@millicom.com 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, highspeed data, voice, and business-to-business solutions such as cloud and security. As of June 30, 2025, Millicom,including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cableservices through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 millionhomes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.

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