Millicom increases Tigo Panama ownership to 100%

30 Jun 2022

Millicom International Cellular (MIC) has announced that it has closed a transaction to acquire the remaining 20% interest in Telecomunicaciones Digitales (formerly known as Cable Onda, trading as Tigo Panama). As a result, Millicom now owns 100% of Tigo Panama.

According to TeleGeography’s GlobalComms Database, in October 2018 Millicom agreed to acquire an 80% stake in Cable Onda for just over USD1.0 billion; giving Cable Onda an enterprise value of around USD1.5 billion. The transaction closed in December 2018, with the selling shareholders retaining a 20% equity stake in the company.

Panama, Millicom International Cellular (MIC), Tigo Panama (formerly Cable Onda)