Latest news with #Millicom
Yahoo
16-06-2025
- Business
- Yahoo
Factbox-Spain's Telefonica reshapes Latin America strategy after leadership change
(Reuters) -Spanish telecom giant Telefonica has accelerated plans to reduce its exposure in Spanish-speaking Latin America, where profitability is lower than capital cost, to focus instead on four main markets under new CEO Marc Murtra. Following both an ownership and a management shake-up in the last year, Telefonica has withdrawn from many countries in southern America, building on a process that began with the sale of some Central America units in 2019. Telefonica's market focus will now be on the four core businesses of Brazil, Britain, Germany and Spain, and Murtra plans to introduce a new strategy for the company in the second half of this year. Below is a list of developments within the Group's Latin America operations: MEXICO Telefonica has hired investment bank JP Morgan to sell its Mexican business, newspaper Cinco Dias reported in February, citing unidentified financial sources. Asked about the process during an earnings call in February, Murtra said he would not comment on deals until they were signed. ARGENTINA Telefonica said it was selling its unit in Argentina to Telecom Argentina for $1.245 billion. In March, Argentina's presidential office suspended the acquisition on anti-trust concerns. PERU Telefonica agreed to sell its Peruvian unit in April to Argentina's Integra Tec International for about 900,000 euros ($1.04 million). Its Peruvian unit had filed for bankruptcy protection in February. Telefonica booked 1.7 billion euros in capital losses in the first quarter on the sale of its units in Peru and Argentina. VENEZUELA Telefonica has not announced any plans for selling the unit. In February, Jose Luis Rodriguez, the local head of mobile phone unit Movistar said it planned to invest $500 million in the country over two years to expand 4G and 5G services. COLOMBIA Telefonica agreed in March to sell its majority stake in the Colombian unit for $400 million to New York-listed Millicom International, which operates telecom companies across Latin America under the brand Tigo. URUGUAY Telefonica has agreed to sell its Uruguayan unit for $440 million to Millicom. ECUADOR Telefonica has agreed with Millicom to sell its unit in Ecuador for $380 million. CHILE Telefonica has hired Citi as an adviser to sell its Chilean business, news website El Confidencial reported on May, citing unidentified market sources. Telefonica declined to comment. EL SALVADOR Telefonica sold its mobile phone unit in El Salvador in 2021 to General International Telecom in a deal valued at $144 million. PANAMA Telefonica sold its Panama unit in 2019 to Millicom for 536 million euros. COSTA RICA Telefonica sold its Costa Rica unit in 2020 to Liberty Latin America, in a $538 million transaction. NICARAGUA Telefonica's mobile telecom assets in Nicaragua were sold to Millicom in 2019 acquired for $437 million. GUATEMALA Telefonica sold its operations in Guatemala to rival America Movil for 293 million euros in 2019. BRAZIL Telefonica's Sao Paulo-listed unit Telefonica Brasil is part of its four "core businesses". The subsidiary carried out several small acquisitions, such as cloud services firms IPNET and IPNET USA, for up to 230 million reais ($41.49 million) last July. ($1 = 0.8639 euros) ($1 = 5.5437 reais) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-06-2025
- Business
- Yahoo
Millicom reports partial closing of infrastructure deal with SBA Communications
Millicom International (TIGO) announced the partial closing of its previously disclosed transaction with SBA Communications Corporation (SBAC), through the sale of LATI International S.A., the Luxembourg-based holding company for Millicom's mobile passive infrastructure assets in Central America. To date, completed closings have generated approximately $600 million in proceeds, with the remainder of the approximately $975 million transaction expected to close in Q3 2025. In conjunction with this strategic milestone, Millicom's Board of Directors intends, following the publication of Millicom's Q2 results, to approve the distribution of a special interim cash dividend of $2.50 per share, representing approximately 45% of the net proceeds of the transaction. The dividend will be distributed in two equal installments of $1.25 per share, on or around October 15, 2025 and April 15, 2026. This special dividend is incremental to Millicom's previously announced annual dividend of $3.00 per share, further reflecting the Company's ongoing commitment to shareholder remuneration. This transaction highlights Millicom's strategic commitment to monetizing infrastructure assets, strengthening financial flexibility, and generating sustainable shareholder returns-while reaffirming its disciplined approach to capital structure by maintaining its leverage target range of 2.0-2.5x. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on TIGO: Disclaimer & DisclosureReport an Issue Millicom Expands in South America with Telefónica Uruguay Acquisition Millicom to acquire Telefonica Moviles del Uruguay for $440M Millicom price target raised to $39.50 from $31.50 at UBS Millicom's Earnings Call: Growth Amid Challenges Millicom price target raised to $37 from $36.30 at Scotiabank Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-06-2025
- Business
- Yahoo
Spain's Telefonica sells its Ecuador unit at $380 million
MADRID (Reuters) -Spanish telecom company Telefonica said late on Friday it had reached an agreement with Luxembourg-based Millicom International to sell 100% of the shares of its Ecuador unit Otecel S.A. for 380 million dollars. The transaction aimed to further reduce the Spanish company's exposure to Latin America, after it recently sold its businesses in Uruguay, Peru and Argentina to focus on Spain, Brazil, Britain and Germany. Telefonica had agreed a month ago to also sell its Uruguayan unit to Millicom, which operates telecom companies all over Latin America under the brand Tigo. The company had to book an accounting loss of 1.7 billion euros ($1.9 billion) during the last quarter from the disposals in Peru and Argentina.
Reuters
14-06-2025
- Business
- Reuters
Spain's Telefonica sells its Ecuador unit at $380 million
MADRID, June 14 (Reuters) - Spanish telecom company Telefonica ( opens new tab said late on Friday it had reached an agreement with Luxembourg-based Millicom International (MICC.F), opens new tab to sell 100% of the shares of its Ecuador unit Otecel S.A. for 380 million dollars. The transaction aimed to further reduce the Spanish company's exposure to Latin America, after it recently sold its businesses in Uruguay, Peru and Argentina to focus on Spain, Brazil, Britain and Germany. Telefonica had agreed a month ago to also sell its Uruguayan unit to Millicom, which operates telecom companies all over Latin America under the brand Tigo. The company had to book an accounting loss of 1.7 billion euros ($1.9 billion) during the last quarter from the disposals in Peru and Argentina.
Yahoo
13-06-2025
- Business
- Yahoo
Millicom (Tigo) Strengthens South American Leadership with USD 380 Million Acquisition of Telefónica Ecuador
Millicom (Tigo) Strengthens South American Leadership with USD 380 Million Acquisition of Telefónica Ecuador Key Highlights: The acquisition reinforces Millicom's strategic position and operating scale in Latin America, strengthening its platform for long-term regional growth. The acquisition also enhances Millicom's geographic diversification, with the addition of Ecuador — a stable, dollarized economy with a supportive macroeconomic outlook — strengthening overall cash flow resilience. Ecuador's telecom sector shows consistent growth and regulatory momentum, offering a solid runway for long-term expansion and innovation. Luxembourg, June 13, 2025 – Millicom International Cellular S.A. ('Millicom') has signed a definitive agreement to acquire Telefónica's telecommunications operations in Ecuador in a transaction valued at USD 380 million. This acquisition aligns with Telefónica's broader strategy to reshape its portfolio in Latin America and presents Millicom with a strategic opportunity to strengthen its presence in South America, expanding into a stable, dollarized economy with favorable macroeconomic fundamentals. The deal significantly enhances Millicom's regional footprint and commercial reach, laying the foundation for innovation, digital inclusion, and sustained long-term growth. Ecuador's telecommunications sector — supported by consistent expansion in mobile and broadband services and an engaged regulatory environment — offers a compelling platform for Millicom to drive digital transformation. Marcelo Benitez, CEO of Millicom, commented: "This acquisition reflects our long-term confidence in Latin America and our commitment to purposeful, sustainable growth. Ecuador offers a dynamic and growing digital market within a stable, dollarized economy, making it a natural fit for Millicom's strategy. By expanding our presence in South America, we strengthen our platform for innovation, diversification, and long-term value creation.' The transaction is subject to regulatory approvals and other closing conditions. Ecuador Profile: Ecuador has a population of approximately 18.5 million (2025 est.), with a median age of 32.4 and 66% living in urban areas. Dollarized, open economy with resilience across energy, agriculture, and services. The fiscal deficit dropped from 3.5% to 1.4% of GDP in one year, while reserves increased by USD 2.4 billion. Backed by a USD 4 billion IMF facility, Ecuador is strengthening its macroeconomic stability without cutting social spending. IMF and World Bank-supported reforms are enhancing transparency, governance, and private-sector conditions, especially in infrastructure, energy, and telecom. Telefonica Ecuador ranks second in mobile in a fragmented telecom landscape. Mobile and broadband markets show consistent growth: +1.4% mobile, +3.6% fixed broadband. Telecom´s sector demonstrated resilience through recent economic volatility. -END- For further information, please contact: Press: Investors: Sofia Corral, Director Corporate Communications press@ Michel Morin, VP Investor Relations investors@ About MillicomMillicom (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, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 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.
