Millicom (NASDAQ: TIGO) takes full control of Coltel to boost Colombian 5G

Rhea-AI Filing Summary

Millicom International Cellular S.A. has acquired the remaining 32.5% equity stake in Colombia Telecomunicaciones S.A. E.S.P. (Coltel) that was held by the Colombian government (La Nación), giving Millicom full ownership. This follows its earlier tender offer for Telefónica’s controlling stake in February 2026 and completes its strategic consolidation of Coltel.

Millicom says full integration of Coltel is intended to create a larger, financially stronger operator in Colombia, with greater capacity to invest in network infrastructure, accelerate nationwide 5G deployment, and support digital inclusion and service quality for Colombian customers.

Insights

Latin America telecom analyst

Millicom consolidates full control of Coltel, aiming to scale up Colombian operations and network investment.

Millicom now owns 100% of Coltel after purchasing the remaining 32.5% government stake. This move completes a multi-step consolidation following the earlier tender offer for Telefónica’s controlling interest in February 2026.

Management highlights that full ownership should support a larger, financially viable operator in Colombia with greater ability to invest in 5G and broader connectivity. The company frames this as strengthening competitiveness against traditional operators, global digital platforms, satellite providers, and other connectivity players.

The filing emphasizes strategic goals such as accelerating 5G rollout, enhancing service quality, and supporting government digital inclusion objectives in Colombia. Specific financial terms, expected synergies, or timelines are not detailed in the excerpt, so future disclosures will be needed to quantify the economic impact.

Key Figures

Remaining Coltel stake acquired: 32.5% equity stake Employees: 15,000 people Customers: 52 million customers +1 more

4 metrics

Remaining Coltel stake acquired 32.5% equity stake Government stake in Coltel formerly held by La Nación

Employees 15,000 people As of December 31, 2025, including Honduras joint venture

Customers 52 million customers Mobile and fiber-cable services as of December 31, 2025

Fiber-cable footprint 14 million homes passed Footprint as of December 31, 2025

Key Terms

tender offer, digital inclusion, 5G deployment, government stake, +1 more

5 terms

tender offer financial

"This milestone follows the successful conclusion of the tender offer for Telefónica’s controlling stake in February 2026"

A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.

digital inclusion financial

"support government efforts to expand digital inclusion—ultimately providing faster, more reliable connectivity"

5G deployment technical

"The consolidation delivers the scale needed to accelerate nationwide 5G deployment"

government stake regulatory

"acquired the remaining 32.5% equity stake in Colombia Telecomunicaciones formerly held by La Nación"

foreign private issuer regulatory

"REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16"

A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of April, 2026.

____________________

Commission File Number: 001-38763

MILLICOM INTERNATIONAL CELLULAR S.A.

(Exact Name of Registrant as Specified in Its Charter)

8400 NW 36^th Street, Suite 530

Doral, FL 33166

United States

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F x Form 40-F ¨

MILLICOM INTERNATIONAL CELLULAR S.A.

INDEX TO FURNISHED MATERIAL

Item
 

1. Press release dated April 27, 2026.

Item 1

   

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 support future growth in Colombia.

Luxembourg, April 27, 2026 – Millicom International Cellular S.A. ("Millicom") today announced it has acquired the remaining 32.5% equity stake in Colombia Telecomunicaciones S.A. E.S.P. ("Coltel") 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.

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.

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.

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.

"This final step in the acquisition of Coltel reflects our long-term commitment and conviction in Colombia as a core market," said Marcelo Benitez, CEO of Millicom. "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."

-END-

For further information, please contact

Press:
Sofía Corral, Director Corporate Communications press@millicom.com Investors: Luca Pfeifer, VP for Investor Relations
investors@millicom.com

   

About Millicom

Millicom (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 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.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		MILLICOM INTERNATIONAL CELLULAR S.A. (Registrant)
		By:	/s/ Salvador Escalón
			Name:	Salvador Escalón
			Title:	Executive Vice President, Chief Legal and Compliance Officer

Date: April 28, 2026

FAQ

What did Millicom (TIGO) announce regarding Coltel in Colombia?

Millicom announced it acquired the remaining 32.5% equity stake in Colombia Telecomunicaciones (Coltel) previously held by La Nación. This gives Millicom full ownership of Coltel and completes its strategic consolidation of the Colombian telecom operator.

Why is Millicom’s full acquisition of Coltel important for Colombia?

The full acquisition is presented as creating a large-scale, financially viable telecom operator in Colombia. Millicom expects this will support faster 5G deployment, better service quality, and broader digital inclusion for millions of Colombians over time.

How does the Coltel deal fit Millicom (TIGO)’s broader strategy?

Millicom describes Colombia as a core market and the Coltel consolidation as a final strategic step. Owning 100% of Coltel is intended to strengthen its competitive position, increase investment capacity, and support long-term digital and economic development in the country.

What competitive context does Millicom highlight around the Coltel acquisition?

Millicom notes that Colombian telecoms operate in an evolving landscape with competition from traditional operators, global digital platforms, satellite providers, and other connectivity players. It argues that scale, investment capacity, and operational efficiency are crucial to remain competitive.

Does Millicom provide financial terms for the Coltel stake purchase?

The excerpt describes the acquisition of the remaining 32.5% government stake in Coltel and its strategic rationale but does not state purchase price, financing details, or quantified synergies. Those specifics would need to come from other company disclosures, if provided.

How large is Millicom’s overall customer base after consolidating Coltel?

As of December 31, 2025, Millicom, including its Honduras joint venture, employed about 15,000 people and served approximately 52 million customers. Its fiber-cable footprint passed over 14 million homes across its Latin American markets, including Colombia.