Millicom acquires Telefónica Ecuador for $380 million, expanding into stable, growing economy

From GlobeNewswire: 2025-06-13 17:54:00

Millicom (Tigo) has acquired Telefónica Ecuador for USD 380 million, strengthening its position in Latin America and expanding into a stable, dollarized economy with growth potential. The deal enhances Millicom’s regional reach, setting the stage for long-term innovation and growth in Ecuador’s telecom sector. CEO Marcelo Benitez expressed confidence in the acquisition’s alignment with Millicom’s strategy for sustainable growth and value creation. The transaction is pending regulatory approvals. Ecuador, with a population of 18.5 million, shows economic resilience and growth in mobile and broadband markets, making it an attractive investment opportunity for Millicom.



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