Millicom’s Tigo El Salvador signs agreement to sell and lease back towers to SBA
Luxembourg, February 6th, 2018 – Millicom International Cellular S.A. ("Millicom"), announced today that its subsidiary Telemovil El Salvador S.A. de C.V. (“Tigo El Salvador”) has agreed to sell up to approximately 800 wireless communications towers to a subsidiary of SBA Communications Corporation (“SBA”) in El Salvador. As a result of the transaction, Tigo El Salvador will receive approximately US$145 million in cash.
Additionally, the two companies have entered into a long-term agreement whereby SBA will provide Tigo El Salvador with wireless communications towers to support the company’s wireless networks and rollout plans. The transaction is expected to create savings in both capital and operating expenditures for Tigo El Salvador. The specific number of towers and final purchase price will be determined once the various closings have taken place, which are subject to customary closing conditions.
Mauricio Ramos, Chief Executive Officer of Millicom said: “We continue to deliver towards our strategy of growing our mobile data and cable revenue with a focus on Latin America, while enhancing our capital efficiency. Our agreement with SBA, which has a significant presence throughout the Americas, is in alignment with this strategy and with our aim to work with strong partners that can help us provide superior connectivity to our customers in the region.”
For further information, please contact
Vivian Kobeh, Corporate Communications Director
+1 305 476 7352 / +1 305 302 2858
Michel Morin, VP Investor Relations
+352 277 59094
Mauricio Pinzon, Investor Relations Manager
Tel: +44 20 3249 2460
Millicom is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovative digital lifestyle services through its principal brand, Tigo. As of 31 December 2017, Millicom employed more than 18,000 people and provided mobile services to approximately 51 million customers, with a cable footprint of more than 9 million homes passed. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ Stockholm under the symbol MIC. In 2017, Millicom reported revenues of $6.0 billion and EBITDA of USD 2.2 billion.