Millicom (Tigo) Reaches Strategic Agreement with EPM to facilitate Merger Process with ColTel
Millicom (NASDAQ:TIGO) has announced a strategic agreement with Empresas P煤blicas de Medell铆n (EPM) to advance its merger plans in Colombia between Tigo-UNE and Colombia Telecomunicaciones (ColTel). Under the agreement, Millicom commits to present an offer in EPM's Law 226 sale process at a minimum price of COP$418,741 per share of Tigo-UNE, totaling approximately USD $520 million.
The deal includes legal protections and extends EPM's exit rights if the sale process fails due to external factors. Notably, EPM has agreed to consent to the future Tigo-UNE and ColTel merger if they remain a shareholder after an unsuccessful sale process. As part of the transaction, Millicom will re-include Tigo-UNE in its Restricted Group, demonstrating its strategic commitment to the Colombian market.
Millicom (NASDAQ:TIGO) ha annunciato un accordo strategico con Empresas P煤blicas de Medell铆n (EPM) per far avanzare i piani di fusione in Colombia tra Tigo-UNE e Colombia Telecomunicaciones (ColTel). Nell'ambito dell'intesa, Millicom si impegna a presentare un'offerta nel processo di vendita previsto dalla Legge 226 di EPM a un prezzo minimo di COP$418.741 per azione di Tigo-UNE, per un controvalore complessivo di circa USD $520 milioni.
L'accordo prevede garanzie legali e amplia i diritti di recesso di EPM qualora il processo di vendita fallisca per cause esterne. In particolare, EPM ha accettato di dare il suo consenso a una futura fusione tra Tigo-UNE e ColTel qualora rimanga azionista dopo un processo di vendita non riuscito. Come parte della transazione, Millicom reintegrer脿 Tigo-UNE nel suo Restricted Group, a conferma del suo impegno strategico sul mercato colombiano.
Millicom (NASDAQ:TIGO) ha anunciado un acuerdo estrat茅gico con Empresas P煤blicas de Medell铆n (EPM) para impulsar sus planes de fusi贸n en Colombia entre Tigo-UNE y Colombia Telecomunicaciones (ColTel). Seg煤n el acuerdo, Millicom se compromete a presentar una oferta en el proceso de venta de EPM regulado por la Ley 226 a un precio m铆nimo de COP$418.741 por acci贸n de Tigo-UNE, por un monto aproximado de USD $520 millones.
El trato incluye protecciones legales y ampl铆a los derechos de salida de EPM si el proceso de venta fracasa por factores externos. Cabe destacar que EPM ha aceptado dar su consentimiento a una futura fusi贸n entre Tigo-UNE y ColTel si contin煤a como accionista tras un proceso de venta fallido. Como parte de la operaci贸n, Millicom volver谩 a incluir a Tigo-UNE en su Restricted Group, demostrando su compromiso estrat茅gico con el mercado colombiano.
氚�毽饯(Millicom, NASDAQ:TIGO)鞚� Empresas P煤blicas de Medell铆n(EPM)瓿� 旖滊‖牍勳晞鞐愳劀鞚� Tigo-UNE鞕� Colombia Telecomunicaciones(ColTel) 頃╇硲 瓿勴殟鞚� 歆勳爠鞁滍偆旮� 鞙勴暅 鞝勲灥鞝� 頃╈潣毳� 氚滍憸頄堨姷雼堧嫟. 頃措嫻 頃╈潣鞐� 霐半澕 氚�毽饯鞚� EPM鞚� 氩曤 226順� 毵り皝 鞝堨皑鞐愳劀 Tigo-UNE 欤检嫕 頃� 欤茧嫻 斓滌唽 COP$418,741鞚� 臧�瓴╈溂搿� 鞛呾鞍鞚� 鞝滌嫓頃橁赴搿� 鞎届啀頄堨溂氅�, 齑濎暋鞚� 鞎� USD $520氚彪鞛呺媹雼�.
鞚措矆 瓯半灅鞐愲姅 氩曥爜 氤错樃鞛レ箻臧� 韽暔霅橂┌, 鞕鸽秬 鞖旍澑鞙茧 毵り皝 鞝堨皑臧� 鞁ろ尐頃� 瓴届毎 EPM鞚� 韮堩嚧 甓岉暅鞚� 頇曤寑霅╇媹雼�. 韸鬼瀳 毵り皝 鞝堨皑臧� 鞁ろ尐頃橂崝霛茧弰 EPM鞚� 鞐爠頌� 欤检＜鞚� 瓴届毎 頄ロ泟 Tigo-UNE瓿� ColTel鞚� 頃╇硲鞐� 霃欖潣頃橁赴搿� 頄堨姷雼堧嫟. 瓯半灅鞚� 鞚柬櫂鞙茧 氚�毽饯鞚� Tigo-UNE鞚� Restricted Group鞐� 雼れ嫓 韽暔鞁滌紲 旖滊‖牍勳晞 鞁滌灔鞐� 雽�頃� 鞝勲灥鞝� 鞚橃毳� 氤挫棳欷嶋媹雼�.
Millicom (NASDAQ:TIGO) a annonc茅 un accord strat茅gique avec Empresas P煤blicas de Medell铆n (EPM) visant 脿 faire progresser ses projets de fusion en Colombie entre Tigo-UNE et Colombia Telecomunicaciones (ColTel). Dans le cadre de cet accord, Millicom s'engage 脿 pr茅senter une offre dans le processus de vente d'EPM r茅gi par la loi 226 脿 un prix minimum de COP$418.741 par action de Tigo-UNE, pour un montant total d'environ USD $520 millions.
L'accord pr茅voit des protections juridiques et 茅tend les droits de sortie d'EPM si le processus de vente 茅choue pour des raisons externes. Il est notable qu'EPM a accept茅 de consentir 脿 la future fusion entre Tigo-UNE et ColTel si elle reste actionnaire apr猫s un processus de vente infructueux. Dans le cadre de la transaction, Millicom r茅int茅grera Tigo-UNE dans son Restricted Group, t茅moignant de son engagement strat茅gique sur le march茅 colombien.
Millicom (NASDAQ:TIGO) hat eine strategische Vereinbarung mit Empresas P煤blicas de Medell铆n (EPM) bekanntgegeben, um seine Fusionspl盲ne in Kolumbien zwischen Tigo-UNE und Colombia Telecomunicaciones (ColTel) voranzutreiben. Im Rahmen der Vereinbarung verpflichtet sich Millicom, im Verkaufsverfahren von EPM nach Gesetz 226 ein Angebot zu einem Mindestpreis von COP$418.741 pro Aktie von Tigo-UNE abzugeben, insgesamt rund USD $520 Millionen.
Die Vereinbarung beinhaltet rechtliche Schutzmechanismen und erweitert die Austrittsrechte von EPM, falls der Verkaufsprozess aufgrund 盲u脽erer Umst盲nde scheitert. Bemerkenswert ist, dass EPM zustimmt, einer k眉nftigen Fusion von Tigo-UNE und ColTel zuzustimmen, falls es nach einem erfolglosen Verkaufsprozess weiterhin Aktion盲r ist. Im Rahmen der Transaktion wird Millicom Tigo-UNE wieder in seine Restricted Group aufnehmen und damit sein strategisches Engagement auf dem kolumbianischen Markt zeigen.
- Strategic agreement advances the merger process between Tigo-UNE and ColTel in Colombia
- EPM's commitment to support the merger even if sale process is unsuccessful
- Re-inclusion of Tigo-UNE in Millicom's Restricted Group strengthens market position
- Clear valuation established at USD $520 million for the transaction
- Significant capital commitment required with USD $520 million purchase price
- Transaction completion subject to Law 226 sale process success
- Multiple closing conditions and regulatory approvals still needed
Insights
Millicom's strategic agreement with EPM advances Colombia integration plans, demonstrating commitment to market consolidation despite $520M price tag.
This agreement represents a significant strategic maneuver for Millicom in Colombia's competitive telecom landscape. The company has committed to acquiring EPM's stake in Tigo-UNE at a valuation of approximately
The re-inclusion of Tigo-UNE in Millicom's Restricted Group is especially telling. This financial restructuring indicates Millicom is providing these assets with enhanced access to corporate resources and financial backing, reflecting heightened strategic importance within their portfolio. This contradicts any perception that Millicom might be wavering in its commitment to the Colombian market.
Market consolidation is the clear endgame here. Colombia's telecommunications sector has been fragmented with multiple players competing in mobile, broadband, and pay-TV segments. This agreement positions Millicom to create a stronger unified entity through the eventual Tigo-UNE/ColTel merger, potentially yielding significant operational synergies, network optimization benefits, and improved competitive positioning against Am茅rica M贸vil's Claro and Telef贸nica's Movistar.
The
Millicom (Tigo) Reaches Strategic Agreement with EPM to facilitate Merger Process with ColTel
Luxembourg, August 14, 2025 鈥� Millicom (Tigo) today announced a key agreement with Empresas P煤blicas de Medell铆n (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鈥檚 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鈥檚 Restricted Group, reflecting the company鈥檚 renewed strategic commitment to the market.
鈥淭his agreement marks an important milestone for Millicom鈥檚 strategy in Colombia鈥�, said Marcelo Benitez, CEO of Millicom. 鈥淲e are moving decisively with our integration plans while reaffirming our commitment to long-term investment in Colombia鈥檚 digital ecosystem and infrastructure鈥�
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About Millicom
Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America.
Through its TIGO庐 and Tigo Business庐 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-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.
FAQ
What is the value of Millicom's offer for EPM's stake in Tigo-UNE?
What happens if EPM's Law 226 sale process is unsuccessful?
How does this agreement affect Millicom's presence in Colombia?
What are the key conditions for the Tigo-UNE and ColTel merger to proceed?
When did EPM announce the terms of the Law 226 sale process?
