Millicom (Tigo) Reaches Strategic Agreement with EPM to facilitate Merger Process with ColTel

Core Insights - Millicom (Tigo) has reached a strategic agreement with Empresas Públicas de Medellín (EPM) to facilitate its acquisition strategy in Colombia and advance the integration of Tigo-UNE and Colombia Telecomunicaciones (ColTel) [1][3] Group 1: Agreement Details - The agreement is a significant milestone for Millicom's strategy in Colombia, emphasizing the company's commitment to long-term investment in the country's digital ecosystem and infrastructure [3] - Millicom plans to present an offer in EPM's Law 226 sale process, with a minimum price set at COP$418,741 per share of Tigo-UNE, amounting to approximately USD $520 million [5] - EPM has secured an extension of its existing exit rights if the Law 226 sale process fails due to external factors, and has agreed to consent to the future merger between Tigo-UNE and ColTel under certain conditions [5] Group 2: Company Overview - Millicom is a leading provider of fixed and mobile telecommunications services in Latin America, operating under the TIGO® and Tigo Business® brands [4] - The company offers a variety of digital services, including mobile financial services, local entertainment, pay TV, high-speed data, and business-to-business solutions [4] - As of June 30, 2025, Millicom employed approximately 14,000 people and served over 46 million customers, with a fiber-cable footprint covering more than 14 million homes [4]