Millicom’s Costa Rica subsidiary files application for transaction
Stockholm, 22 December, 2014 – Millicom, the international telecommunications and media company (Stockholmsbörsen: MIC), has agreed terms and conditions to acquire the business of TeleCable Económico TVE, S.A. and merge the company with its Costa Rican subsidiary. The agreement is subject to regulatory approval.
Millicom Cable Costa Rica, S. A., trading as Tigo, has made an application for the agreement to be sanctioned by the Superintendencia de Telecomunicaciones (SUTEL), the industry regulator.
If approved, the new company would have an extended geographical coverage and offer consumers a greater range of services and innovative products. It would also add momentum to the recent strategic moves made by the companies such as introducing faster internet, the development of apps for mobile devices for sports and music events and measures to reduce the digital divide.
Tigo in Costa Rica provides residential services such as cable and satellite TV, internet and home phone IP. It also provides data connection services to the corporate market, high speed internet, IP business telephony and many other local services.
For more please visit: www.millicom.com or contact:
Press: Julian Eccles, VP Corporate Communications, on +44 7720 409374 at press@millicom.com
Investors: Nicolas Didio, Director of Investor Relations, on +44 203 249 2220 at investors@millicom.com
About Millicom
Millicom is a leading international telecommunications and media company dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing digital lifestyle services to the world’s emerging markets, giving access to the world, primarily through mobile devices. Operating in fourteen countries, using the Tigo brand, Millicom offers innovative and customer-centric products. Millicom employs more than 16,000 people and provides mobile, cable, broadband, TV content, online and financial services to over 50 million customers. Founded in 1990, Millicom is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2013 Millicom generated revenue of $5.16 billion and EBITDA of $1.9 billion.
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