Millicom (Tigo) and Telefonica sign definitive sale-purchase agreement in Colombia
Millicom (Tigo) has signed a definitive agreement to acquire Telefonica's 67.5% controlling stake in Coltel, following their July 31, 2024 announcement. The purchase price is set at $400 million, which adjusts to $362 million as of September 30, 2024, considering net debt, working capital, and forex changes.
Millicom will also extend an offer to purchase the remaining 32.5% stake owned by La Nación and other investors at the same price per share. The merger aims to create a stronger telecom entity in Colombia with enhanced capabilities for network and spectrum investments. Additionally, Millicom has reiterated its offer to acquire its partner's 50% stake in UNE at a valuation multiple comparable to the Coltel acquisition.
Millicom (Tigo) ha firmato un accordo definitivo per acquisire il 67,5% delle azioni di controllo di Telefonica in Coltel, a seguito dell'annuncio del 31 luglio 2024. Il prezzo di acquisto è fissato a 400 milioni di dollari, che si riduce a 362 milioni di dollari al 30 settembre 2024, considerando il debito netto, il capitale circolante e le variazioni valutarie.
Millicom estenderà anche un'offerta per acquistare il restante 32,5% delle azioni possedute da La Nación e altri investitori allo stesso prezzo per azione. La fusione mira a creare un'entità telecom più forte in Colombia con capacità migliorate per investimenti in rete e spettro. Inoltre, Millicom ha ribadito la sua offerta per acquisire la quota del 50% del suo partner in UNE a una valutazione comparabile a quella dell'acquisizione di Coltel.
Millicom (Tigo) ha firmado un acuerdo definitivo para adquirir el 67.5% de la participación controladora de Telefónica en Coltel, tras su anuncio del 31 de julio de 2024. El precio de compra se establece en 400 millones de dólares, que se ajusta a 362 millones de dólares a partir del 30 de septiembre de 2024, considerando la deuda neta, el capital de trabajo y los cambios en el tipo de cambio.
Millicom también extenderá una oferta para comprar el restante 32.5% de participación que poseen La Nación y otros inversionistas al mismo precio por acción. La fusión tiene como objetivo crear una entidad de telecomunicaciones más fuerte en Colombia con capacidades mejoradas para inversiones en red y espectro. Además, Millicom ha reiterado su oferta para adquirir la participación del 50% de su socio en UNE a una valoración comparable a la de la adquisición de Coltel.
밀리콤 (Tigo)은 콜텔에서 텔레포니카의 67.5% 지분을 인수하기 위한 최종 계약을 체결했습니다. 이는 2024년 7월 31일 발표 이후의 일입니다. 인수 가격은 4억 달러로 설정되어 있으며, 2024년 9월 30일 기준으로 순부채, 운전 자본 및 외환 변동을 고려하여 3억 6200만 달러로 조정됩니다.
밀리콤은 또한 라 나시온 및 기타 투자자들이 보유한 나머지 32.5% 지분을 동일한 주당 가격으로 구매하겠다는 제안을 연장할 것입니다. 이번 합병은 콜롬비아에서 더 강력한 통신 회사를 만들고 네트워크 및 스펙트럼 투자에 대한 능력을 향상시키는 것을 목표로 하고 있습니다. 또한 밀리콤은 파트너의 50% 지분을 UNE에서 인수하겠다는 제안을 재확인했습니다. 이는 콜텔 인수와 유사한 평가 배수를 기준으로 합니다.
Millicom (Tigo) a signé un accord définitif pour acquérir la participation contrôlante de 67,5 % de Telefonica dans Coltel, suite à leur annonce du 31 juillet 2024. Le prix d'achat est fixé à 400 millions de dollars, qui sera ajusté à 362 millions de dollars au 30 septembre 2024, en tenant compte de la dette nette, du fonds de roulement et des variations de change.
Millicom proposera également d'acheter le reste de la participation de 32,5 % détenue par La Nación et d'autres investisseurs au même prix par action. La fusion vise à créer une entité de télécommunications plus forte en Colombie avec des capacités améliorées pour les investissements dans les réseaux et le spectre. De plus, Millicom a réitéré son offre pour acquérir la participation de 50 % de son partenaire dans UNE à une valorisation comparable à celle de l'acquisition de Coltel.
Millicom (Tigo) hat einen endgültigen Vertrag zur Übernahme des 67,5% Anteils von Telefónica an Coltel unterzeichnet, nach ihrer Bekanntgabe vom 31. Juli 2024. Der Kaufpreis beträgt 400 Millionen Dollar, der sich zum 30. September 2024 auf 362 Millionen Dollar anpasst, unter Berücksichtigung der Nettoverschuldung, des Working Capitals und der Währungsänderungen.
Millicom wird auch ein Angebot zur Übernahme des verbleibenden 32,5% Anteils von La Nación und anderen Investoren zum gleichen Preis pro Aktie unterbreiten. Die Fusion zielt darauf ab, ein stärkeres Telekommunikationsunternehmen in Kolumbien zu schaffen, das verbesserte Möglichkeiten für Investitionen in Netz und Spektrum bietet. Darüber hinaus hat Millicom sein Angebot zur Übernahme des 50% Anteils seines Partners an UNE zu einer Bewertung, die mit der Übernahme von Coltel vergleichbar ist, bekräftigt.
- Strategic expansion of market presence in Colombia
- Creation of a stronger telecom entity with enhanced investment capabilities
- Potential for complete ownership through additional stake purchases
- Opportunity for operational synergies and improved market competitiveness
- Significant capital outlay of $362-400 million required
- Deal completion subject to regulatory uncertainty
- Additional capital needed if minority stakeholders accept buyout offer
Millicom (Tigo) and Telefonica sign definitive sale-purchase agreement in Colombia
Luxembourg, March 12, 2025 – Pursuant to the announcement on July 31, 2024, Millicom and Telefonica have entered into a definitive agreement for the acquisition by Millicom of Telefonica’s controlling
The proposed combined entity would rejuvenate Colombia's telecom sector by forming a robust telecom entity with the necessary scale and financial capacity to support the significant network and spectrum investments required to achieve Colombia's ambitious digital inclusion objectives.
Millicom also reiterates its offer to acquire its partner’s
Millicom CEO Marcelo Benitez commented, “This transaction strengthens our presence in Colombia, and with this strategic move, Millicom reaffirms its ongoing commitment to expanding connectivity and coverage, accelerating digital transformation, and actively contributing to Colombia's continued growth and competitiveness.”
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| Press: Sofía Corral, Director Corporate Communications press@millicom.com | Investors: Michel Morin, VP Investor Relations investors@millicom.com |
About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide 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 December 31, 2024, 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 of about 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.
Regulatory Statement
Certain of this information was, prior to this release, inside information and is information that Millicom is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 23.50 CET on March 12, 2025.
FAQ
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