Millicom (Tigo) announces successful bid for EPM’s Stake in UNE
Rhea-AI Summary
Millicom (Tigo) announced on January 27, 2026 that it won 100% of Empresas Públicas de Medellín’s remaining shares in UNE (Tigo Colombia) via a public auction.
The bid price was COP 418,741 per share, totaling approximately COP 2.1 trillion (about USD 571 million). The transaction is expected to close on January 29, 2026, after which Millicom’s ownership in UNE will consolidate to nearly 100% and the company says the simplified ownership structure will help streamline operations and accelerate strategic integration in Colombia.
Positive
- Ownership consolidated to nearly 100% of UNE
- Transaction value approximately COP 2.1 trillion (~USD 571m)
- Closing date expected on January 29, 2026, providing timeline clarity
- Simplified structure expected to streamline operations and accelerate integration
Negative
- Cash outlay of approximately COP 2.1 trillion (~USD 571m) required for the acquisition
News Market Reaction
On the day this news was published, TIGO gained 0.56%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
TIGO was down 0.2% while sector peers showed mixed momentum: SKM up 3.2%, LBRDK up 0.99%, LBRDA up 0.42%, FYBR roughly flat and KT unchanged. Momentum scanner peers were split, with two up and two down, pointing to stock-specific drivers for TIGO.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 10 | Legal resolution | Neutral | +3.6% | Deferred prosecution agreement and settlement of DOJ investigation over past conduct. |
| Nov 06 | Earnings release | Positive | +3.8% | Strong Q3 2025 results with record Adjusted EBITDA and solid cash flow metrics. |
| Oct 30 | Acquisition deal | Positive | +0.7% | Completion of Telefónica Ecuador acquisition expanding South American footprint. |
| Oct 16 | Earnings notice | Neutral | -0.7% | Scheduling and details for upcoming Q3 2025 results and investor video conference. |
| Oct 07 | Acquisition close | Positive | +0.2% | Completion of Telefónica Uruguay acquisition, adding a new South American market. |
Recent history shows consistently positive or modestly positive price reactions to earnings and acquisition announcements.
Over the last few months, Millicom has reported strong financial and strategic progress. Q3 2025 revenue was $1.42B with record Adjusted EBITDA of $695M, and an H1 2025 net profit of $869M. The company expanded regionally with acquisitions in Uruguay for USD 440M and Ecuador for USD 380M, both followed by positive price moves. A DOJ investigation into historical conduct was resolved via a DPA and the stock also reacted positively, suggesting investors have generally rewarded de‑risking and expansion initiatives.
Market Pulse Summary
This announcement details Millicom’s successful bid for EPM’s remaining UNE stake at COP 418,741 per share, for about COP 2.1 trillion (roughly USD 571M). The deal would bring ownership in UNE to nearly 100% and simplify the Colombian structure, continuing a recent pattern of regional expansion. Investors may track closing on January 29, 2026, subsequent integration steps, and how this fits alongside prior acquisitions in Uruguay and Ecuador and recent cash flow performance.
AI-generated analysis. Not financial advice.
Millicom (Tigo) announces successful bid for EPM’s Stake in UNE
Luxembourg, January 27,2026 — Millicom International Cellular S.A. ("Millicom") today announced that it has been awarded
Millicom’s bid was COP 418,741 per share, representing a total consideration of approximately COP 2.1 trillion, (approximately USD 571 million). This acquisition consolidates Millicom’s ownership in UNE to nearly
The transaction is expected to close on January 29, 2026, in accordance with the established auction rules. Upon closing, the simplified ownership structure will allow Millicom to further streamline its operations in Colombia and accelerate its strategic integration plans.
For further information, please contact:
| Press: Sofía Corral, Director Corporate Communications press@millicom.com | Investors: Luca Pfeifer, VP for Investor Relations investors@millicom.com |
About Millicom
Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO® and Tigo Business® brands, the company provides a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, highspeed data, voice, and business-to-business solutions such as cloud and security. As of September 30, 2025, Millicom, including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.
FAQ
What did Millicom (TIGO) pay per share for EPM’s stake in UNE?
What is the total consideration Millicom (TIGO) agreed to pay for UNE?
When will the Millicom (TIGO) acquisition of EPM’s UNE shares close?
How will the Millicom (TIGO) purchase affect UNE’s ownership structure?
Will Millicom (TIGO) announce how the acquisition will be financed?
