Tigo/Une-EPM merger gets final clearance

4 Aug 2014

Millicom International Cellular (MIC) has announced that the proposed merger of its Colombian mobile unit, Tigo Colombia, with local full service provider Une-EPM has been given the green light by the Finance Superintendent, the last regulatory approval it needed to go ahead with the transaction. MIC will now work with Empresas Publicas de Medellin (EPM) to complete the merger, and a prospective completion date will be announced within the next few weeks.

According to TeleGeography’s GlobalComms Database, the merger deal was agreed between parent companies Millicom International Cellular (MIC) and state-owned utility firm Empresas Publicas de Medellin (EPM), in July 2013. Under the pact, EPM would hold a 50% plus one share stake in the enlarged entity, whilst MIC would hold the remainder and assume operational and administrative control of the operator. MIC will also clear EPM’s debts, totalling more than COP181.4 billion (USD94 million).

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