Millicom (Tigo) acquires Telefónica Ecuador for USD 380 Million, strengthening its South American footprint

Core Insights - Millicom has successfully acquired Telefónica's telecommunications operations in Ecuador for USD 380 million, enhancing its presence in South America [1][2] - This acquisition is part of Millicom's strategy to deepen its footprint in high-potential markets, following its recent acquisition in Uruguay [2][3] - The CEO of Millicom emphasized the company's long-term confidence in Latin America and its commitment to digital connectivity and sustainable growth [3] Company Overview - Millicom operates in eleven countries and is recognized as a leading telecommunications group in Latin America, focusing on digital inclusion and innovation [3] - The company provides a variety of digital services, including mobile financial services, local entertainment, pay TV, and business solutions, serving over 46 million customers [8] Ecuador Market Profile - Ecuador has a population of approximately 18.1 million, with a youthful demographic and a significant urban population, creating a connected consumer base [7] - The economy is dollarized with solid macroeconomic fundamentals, projected GDP growth of 1.7% in 2025 and 2.0% in 2026, and low inflation around 1.3% [7] - The telecommunications market in Ecuador is competitive, with steady demand for mobile and broadband services, showing growth rates of approximately +1.4% in mobile and +3.6% in fixed broadband [7]