US EditionMillicom (Tigo) acquires Telefónica Ecuador for USD 380 Million, strengthening its South American footprint
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10 Articles
The Spanish multinational telecommunications Telefónica concluded on Thursday its stage as a mobile telephone operator in Ecuador, after a period of two decades where it highlights its legacy in innovation and inclusion, and wished "the biggest success" to the company Millicom, which operates under the brand Tigo, who will now take its place in the Ecuadorian market.The acquisition of Telefónica Ecuador by Millicom is part of the departure of th…
The Spanish multinational Millicom, which in Latin America manages the Tigo brand, announced that it completed the acquisition of Telefónica Ecuador (which in the country operates with Movistar and Tuenti), for a total amount amounting to $ 380 million.
Millicom (Tigo) acquires Telefónica Ecuador for USD 380 Million, strengthening its South American footprint
Millicom (Tigo) acquires Telefónica Ecuador for USD 380 Million, strengthening its South American footprint Luxembourg, October 30, 2025 - Millicom International Cellular S.A....
This is the fifth sale made by Telefónica in the area, after those of the subsidiaries in Argentina, Peru, Uruguay and Colombia, the latter is not official, but it is already agreed
Telefónica. Image: Press Room Telefónica. Telefónica announced the sale of its subsidiary in Ecuador, Otecel, to Millicom Spain for 329 million euros, approximately US$380 million, according to the company to the National Securities Market Commission (CNMV) in Madrid. With this transaction, the Spanish group will reduce its net financial debt by 273 million euros, in line with its strategy of progressive divestment in Hispanic America. The opera…
Telefónica makes another Hispam withdrawal: pockets $380m Ecuador deal
Spanish group secures another wadge of cash to pay down debt by completing a sale of Telefónica Ecuador to regional peer Millicom. While Telefónica cannot get out of Hispanoamérica fast enough, Millicom is bulking its regional business up and out, talking up Ecuador as a “high potential market” with “solid” macro fundamentals.
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