Millicom announces spectrum purchases
Millicom announces spectrum purchases
Luxembourg, December 21, 2019 – Millicom announces that, as a result of the auction carried out in Colombia yesterday by the Ministerio de Tecnologias de la Informacion y las Comunicaciones (MINTIC), Colombia Móvil S.A. E.S.P., a wholly-owned subsidiary of UNE EPM Telecomunicaciones S.A. in which Millicom owns a 50% plus one voting share interest, acquired licenses granting the right to use a total of 40 MHz in the 700 MHz band. The 20-year license will expire in 2040. As a result of this auction, Colombia Móvil has strengthened its spectrum position, which also includes 55 MHz in the 1900 band and 30 MHz of AWS.
Colombia Móvil agreed to a total notional consideration of COP$2.45 billion (equivalent to approximately US$736 million), of which approximately 45% is to be met by coverage obligations implemented by 2025. The remaining 55% is payable in cash with an initial payment of approximately US$39 million, with the remainder payable in 12 annual installments beginning in 2026 and ending in 2037.
Additionally, Millicom announces that Millicom’s subsidiary, Telemóvil El Salvador, S.A. de C.V., agreed to acquire 5 blocks of 10 MHz each for a total of 50 MHz in the AWS band as a result of a recent auction carried out by the Superintendencia General de Electricidad y Telecomunicaciones (SIGET) in El Salvador. The spectrum license purchase is subject to final approval by SIGET, which had established a reserve price of $6.25 million per block.
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For further information, please contact
| Press: Vivian Kobeh, Corporate Communications Director +1 786 628-5300 press@millicom.com |
Investors: Michel Morin, VP Investor Relations +1 786 628-5270 investors@millicom.com Sarah Inmon, Investor Relations Manager +1-786-628-5303 investors@millicom.com |
About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle services through its principal brand, TIGO. As of December 31st, 2018, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 50 million customers, with a cable footprint of more than 11 million homes passed. Founded in 1992, Millicom International Cellular S.A. is headquartered in Luxembourg.
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