Brief: Millicom (Tigo) Announces Potential Acquisitions In Colombia

Millicom International Cellular

31/07/2024 07:11

July 31 (Reuters) - Millicom International Cellular SA  MICC.F :
    * MILLICOM (TIGO) ANNOUNCES POTENTIAL ACQUISITIONS IN COLOMBIA
    * DISCUSSIONS INCLUDE POTENTIAL ACQUISITION BY MILLICOM OF TELEFONICA’S STAKE IN TELEFONICA
COLOMBIA (COLTEL) FOR APPROXIMATELY $400 MILLION IN CASH
    * INTENDS TO OFFER TO PURCHASE LA NACION'S AND OTHER MINORITY INTERESTS IN COLTEL FOR CASH
AT SAME
PURCHASE PRICE PER SHARE OFFERED TO TELEFONICA
    * INTENDS TO OFFER TO PURCHASE EMPRESAS PUBLICAS DE MEDELLIN’S (EPM) 50% INTEREST IN TIGOUNE
FOR
CASH AT A COMPARABLE VALUATION MULTIPLE AS ONE IMPLIED BY COLTEL ACQUISITION
    * PLANS TO FUND PROPOSED AGGREGATE INVESTMENT OF APPROXIMATELY $1 BILLION IN CASH AND
ASSUMED DEBT
WITH EQUITY FREE CASH FLOW PROJECTED OVER NEXT 18 MONTHS

Source text for Eikon: https://tinyurl.com/bdfpjc69
Further company coverage:  MICC.F 

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