Published On: Mon, Jul 22nd, 2013

Carlos Slim gets new competition in Colombia

TigoFT.com – Get ready for some competition in Colombia Carlos Slim. Millicom International, a Luxembourg-based telecoms company, on Monday announced plans to merge is Colombian operations with the fixed-line business of state-run Empresas Públicas de Medellín (EPM) in a move to create “a leading digital lifestyle company” in the country.

Millicom, a group controlled by Sweden’s Kinnevik investment group that focuses on emerging markets, has been operating in Colombia since 2006 when it bought a controlling stake in Colombia Móvil for $478m.

Millicom said in a statement the deal is expected to be sealed by the end of the first quarter of next year and that the integrated company would have over 8.4 million fixed line and mobile customers in a country of 46 million people.

Millicom already operates in Colombia under the Tigo brand through a consortium with EPM (which runs its mobile business under the UNE logo) and another state-controlled company, Empresa de Telecomunicaciones de Bogotá (ETB).

Tigo is currently the third largest mobile phone operator in Colombia with over 6 million clients, behind Slim’s América Móvil, which operates under the Claro brand, and Telefónica’s Movistar.

The proposed transaction implies a pre-deal enterprise valuation of Tigo (Millicom’s Colombian business) of approximately US$$1.3 billion, and a pre-deal enterprise valuation of EPM’s fixed line business (UNE) of approximately US$$2.1 billion.

Indeed, this would pit the Millicom-EPM consortium against Slim’s Claro that also acts as the local subsidiary of his fixed-line unit, Telmex, offering broadband and cable TV and is already one of the market leaders in Colombia.


For website development, online marketing and promotion,
check out The Q Media


If you enjoyed this piece, please SHARE IT so other readers can find it and enjoy it.

Recent Posts

TCO bottom

May 26, 2016, Comments Off on TCO bottom

TCO Bottom2

May 26, 2016, Comments Off on TCO Bottom2

TCO Sidebar

May 26, 2016, Comments Off on TCO Sidebar
Coffee-tasting-Juan-Valdez

Lighting a Fire under Coffee Culture in Colombia

May 24, 2016, Comments Off on Lighting a Fire under Coffee Culture in Colombia
The National Council is a group of unions that lobby for union privileges. (Confidencial Colombia)

What’s Wrong with Colombia’s Business Leaders?

May 24, 2016, Comments Off on What’s Wrong with Colombia’s Business Leaders?
extradition

US expands extradition powers, raising fears among Colombia’s coca farmers

May 23, 2016, Comments Off on US expands extradition powers, raising fears among Colombia’s coca farmers
mounties

Canada and Mexico could join UN peacekeeping mission in Colombia

May 23, 2016, Comments Off on Canada and Mexico could join UN peacekeeping mission in Colombia
enrique_penalosa

Bogota mayor falsified CV with invented academic titles: Report

May 23, 2016, Comments Off on Bogota mayor falsified CV with invented academic titles: Report
mosquito

5 cases of Zika-associated microcephaly registered in Colombia this year

May 23, 2016, Comments Off on 5 cases of Zika-associated microcephaly registered in Colombia this year
In gender equality Colombia is ranked sixth in Latin Amerca, 42nd worldwide.

Colombia 6th In Gender Equality in Latin America

May 23, 2016, Comments Off on Colombia 6th In Gender Equality in Latin America
esteban_chaves

Colombia’s Chaves uses Giro d’Italia win for snide jab to Bogota mayor

May 22, 2016, Comments Off on Colombia’s Chaves uses Giro d’Italia win for snide jab to Bogota mayor
Party in Colombia