Millicom spends $1.65 bln on Telefonica Central America mobile businesses (updated)
20/02/2019 23:48
(Adds comments from executive)
Feb 20 (Reuters) - Millicom International Cellular
TIGOsdb.ST , a cable and mobile operator in Latin America and
Africa, said on Wednesday it bought the mobile
telecommunications assets of Spain's Telefonica in Panama, Costa
Rica and Nicaragua for $1.65 billion .
Telefonica has long been rumored to want to sell in Mexico
and Central America. Millicom's chief operating officer in Latin
America, Esteban Iriarte, declined to comment when asked if
Millicom was interested in a presence in Mexico.
Last month, Telefonica TEF.MC said it had reached an
agreement to sell its Guatemalan and El Salvadoran operations to
Mexican billionaire Carlos Slim's America Movil AMXL.MX .
While Millicom already operates in Panama, Costa Rica and
Nicaragua, Iriarte said he does not think the acquisition will
raise anti-trust concerns because Telefonica’s business is
primarily mobile, while Millicom’s is fixed.
"Both of us are operating in Central America, but in
different areas," he said.
The company is eager to add the Telefonica team to its
ranks, he said.
"They have a very good base of people in Central America,
and it will give us the chance to incorporate new talent in the
company," he said. "It’s great talent to have in the mobile
area."
(Reporting by Julia Love in Mexico City; Writing by Frank Jack
Daniel; Editing by Will Dunham and Tom Brown)
((frank.daniel@thomsonreuters.com; +52 55 5282 7137; Reuters
Messaging: frank.daniel.thomsonreuters.com@reuters.net))