Millicom and Telefonica have entered into a definitive agreement for Millicom to acquire Telefonica's controlling 67.5% equity stake in Coltel, pending closing conditions, including regulatory approvals. Additionally, Millicom has agreed to offer to purchase the remaining 32.5% of Coltel equity held by La Nación and other investors at the same purchase price per share offered to Telefonica.
Millicom noted that the purchase price of $400 million is subject to customary adjustments for net debt evolution, working capital and changes in foreign exchange rates, and as of September 30, 2024, would be $362 million.
Millicom also reiterates its offer to acquire its partner's 50% stake in UNE for cash at a price per share derived from applying a valuation multiple comparable to the one implied by the Coltel acquisition.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.