Adios Ola!, Hola Tigo!

29 Nov 2006

Millicom International Cellular (MIC) has announced that it has changed the brand of its newly acquired Colombian subsidiary Colombia Movil from Ola to Tigo; the Luxembourg based firm had originally planned to implement the new brand in 1Q 2007, but brought the date forward to benefit from increased retail spending during the Christmas period, a source close to the company told BNamericas. MIC acquired a 50% plus one share stake in Ola at the end of August from Colombian state-run telcos EPM and ETB for USD479 million. The company expects to plough some USD200 million into infrastructure projects next year, in a bid to wrest market share away from Comcel (owned by America Movil) and Telefonica Moviles. Ola is the country’s smallest cellco with around 2.2 million subscribers at the end of 3Q 2006.

Colombia, Colombia Movil (Tigo Colombia)