Millicom (Tigo) strengthens its position in Colombia following the successful acquisition of the government stake in Coltel  This milestone enhances scale and investment capacity to strengthen network capabilities and

TIGO

Millicom (Tigo) strengthens its position in Colombia following the successful acquisition of the government stake in Coltel

Millicom enhances Colombian market position through Coltel acquisition

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Millicom (Tigo) strengthens its position in Colombia following the successful acquisition of the government stake in Coltel  This milestone enhances scale and investment capacity to strengthen network capabilities and</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Millicom has completed its acquisition of the remaining 32.5% stake in Coltel, enhancing its operational scale and investment capacity in Colombia. This strategic move positions Millicom to accelerate 5G deployment and bolster digital transformation efforts in the region, which could significantly enhance connectivity for millions of customers.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Millicom acquires remaining 32.5% stake in Coltel from La Nación.</li><li>Acquisition strengthens Millicom&#039;s position in Colombian telecommunications market.</li><li>Enhanced scale facilitates nationwide 5G deployment and digital inclusion efforts.</li><li>Consolidation supports Millicom&#039;s investment capacity and operational efficiency.</li><li>CEO reaffirms commitment to Colombia&#039;s digital transformation and economic development.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Telefónica (TEF)</strong>: Telefónica previously held a controlling stake in Colombian operator Coltel.</li><li><strong>La Nación (N/A)</strong>: La Nación sold its remaining stake in Coltel to Millicom.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This acquisition falls under Corporate Developments as Millicom aims to strengthen its competitive edge in the telecommunication sector through strategic consolidation, enhancing future growth prospects.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Integration of Coltel may boost TIGO&#039;s market share and revenue growth.</li><li>Increased scale enables faster 5G rollout, enhancing competitive advantage.</li><li>Strengthened operational capabilities could attract more customers in Colombia.</li><li>Long-term digital transformation initiatives may improve TIGO&#039;s valuation.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Millicom acquired 32.5% of Coltel, completing full ownership.</li><li>This marks Millicom&#039;s final step in its Colombia expansion strategy.</li><li>Millicom aims to enhance 5G deployment and service quality.</li><li>The transaction solidifies Millicom&#039;s investment capacity in a competitive market.</li><li>As of December 2025, Millicom serves approximately 52 million customers.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Expect TIGO to benefit from increased operational efficiency and investment capacity in the short term.</p>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="center"><b>Millicom (Tigo) strengthens its position in Colombia following the successful acquisition of the government stake in Coltel</b></p>  <p align="center"><i>This milestone enhances scale and investment capacity to strengthen network capabilities and support future growth in Colombia.</i></p>  <p align="justify"><b>Luxembourg, April 27, 2026 – </b>Millicom International Cellular S.A. (&#34;Millicom&#34;) today announced it has acquired the remaining 32.5% equity stake in Colombia Telecomunicaciones S.A. E.S.P. (&#34;Coltel&#34;) formerly held by La Nación. This milestone follows the successful conclusion of the tender offer for Telefónica's controlling stake in February 2026 and marks the final step in Millicom's strategic consolidation of the entity. </p>  <p align="justify">The acquisition represents a decisive moment for the Colombian telecommunications sector. By integrating Coltel fully into its operations, Millicom is creating a large-scale, financially viable operator with the enhanced investment capacity required to accelerate the country's digital transformation. </p>  <p align="justify">The consolidation delivers the scale needed to accelerate nationwide 5G deployment, enhance service quality through combined technical capabilities, and support government efforts to expand digital inclusion—ultimately providing faster, more reliable connectivity and a more seamless digital experience for millions of Colombians.</p>  <p align="justify">The transaction takes place in an evolving competitive landscape, where traditional operators compete with global digital platforms, satellite providers, and other connectivity players. Scale, investment capacity, and operational efficiency are key to remaining competitive.</p>  <p align="justify">&#34;<i>This final step in the acquisition of Coltel reflects our long-term commitment and conviction in Colombia as a core market,&#34; </i>said Marcelo Benitez, CEO of Millicom<i>. &#34;By unifying these operations, we are strengthening our ability to compete in a rapidly evolving industry, accelerate next-generation infrastructure, and contribute to Colombia's long-term digital and economic development.</i>&#34;</p>  <p align="center">-END-</p>  <p align="justify"><b>For further information, please contact </b></p> <table style="border-collapse: collapse; border-collapse:collapse ;"><tr><td style="width:316.2px;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: top ; "><b>Press: </b><b><br></br></b>Sofía Corral, Director Corporate Communications<br></br>press@millicom.com</td><td style="width:316.2px;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: top ; "><b>Investors: </b><br></br>Luca Pfeifer, VP for Investor Relations<br></br>investors@millicom.com </td></tr></table> <p align="justify"><b>About Millicom</b></p>  <p align="justify">Millicom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TIGO">TIGO</a>) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO&#xAE; and Tigo Business&#xAE; 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 December 31, 2025, Millicom, including its Honduras Joint Venture, employed approximately 15,000 people and provided mobile and fiber-cable services through its digital highways to approximately 52 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.</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=MTAwMTE3ODI4OSM0MDIzODE5MzkjMjAwMTYxNQ=="></img> <br></br><img alt="" src="https://ml-eu.globenewswire.com/media/MTM3MDc1ZDEtNDgwMS00YzA0LWE3NzYtMTg4MWY1OTA5ODFiLTEwMTMxODgtMjAyNi0wNC0yNy1lbg==/tiny/Millicom-International-Cellula.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/86078f80-5257-4e97-8fb2-db64a351c9ca"><img src="https://ml-eu.globenewswire.com/media/86078f80-5257-4e97-8fb2-db64a351c9ca/small/logo-millicom-blanco-sin-fondo-png.png" border="0" width="150" height="58" alt="Primary Logo"></img></a></p>

Millicom has completed its acquisition of the remaining 32.5% stake in Coltel, enhancing its operational scale and investment capacity in Colombia. This strategic move positions Millicom to accelerate 5G deployment and bolster digital transformation efforts in the region, which could significantly enhance connectivity for millions of customers.

Millicom (Tigo) strengthens its position in Colombia following the successful acquisition of the government stake in Coltel

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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