Une-EPM takes control at Pereira’s municipal telco ETP

The Colombian fixed line and wireless operator Une-EPM has taken full control of fellow municipal operator Pereira Telecommunications Company (ETP) as it looks to simplify its group structure ahead of a planned merger with Millicom-owned cellular market rival Tigo. EPM acquired some 186.8 million shares in ETP for COP64.25 billion (USD34 million), increasing its stake in the Pereira operator from 56.14% to 99.98%. Une-EPM currently holds a 25% stake in Tigo Colombia, and has worked alongside Millicom since its entrance into the venture in 2006.