Millicom to cover EPM debts if merger takes place

27 Aug 2013

Millicom-owned cellular operator Tigo Colombia has agreed to pay off all of the debt of Empresas Publicas de Medellin (EPM) ahead of the proposed merger between Tigo and EPM’s telecoms arm Une-EPM. The debt, amassed since 2006, is worth COP181.4 million (USD94 million) Telesemana reports. The two firms hope that negotiations between them can be finalised by the end of next month, with the merger expected to take place in the first quarter of 2014. The integrated company would exploit the complementary geographic coverage of Une and Tigo and offer a comprehensive range of bundled digital services including mobile and fixed telephony, mobile and fixed broadband and pay-TV, the firms say.

Colombia, Colombia Movil (Tigo Colombia), Une EPM Telecomunicaciones (Tigo Colombia)