Millicom buys Telefonica's stake in Coltel for $400 million to support Colombia's digital goals.

From GlobeNewswire: 2025-03-12 18:50:00

Millicom and Telefonica have finalized a deal for Millicom to acquire Telefonica’s 67.5% stake in Coltel in Colombia for $400 million. The acquisition will create a strong telecom entity to support Colombia’s digital inclusion goals. Millicom also plans to buy out its partner’s 50% stake in UNE. Millicom’s CEO, Marcelo Benitez, sees this move as a commitment to expanding connectivity and contributing to Colombia’s growth. Millicom is a leading provider of telecommunications services in Latin America, serving over 46 million customers with a wide range of digital products and services.



Read more at GlobeNewswire: Millicom (Tigo) and Telefonica sign definitive