Millicom (NASDAQ: TIGO) wins COP 2.1T UNE Colombia auction

Rhea-AI Filing Summary

International Cellular S.A. (Millicom) is expanding its control of its Colombian operations through a major share purchase. The company won a public auction conducted by Empresas Públicas de Medellín for 100% of its remaining shares in UNE Telecommunicaciones S.A. (also known as Tigo Colombia).

Millicom bid COP 418,741 per share, for a total consideration of about COP 2.1 trillion (approximately USD 571 million). After closing, which is expected on January 29, 2026 under the auction rules, Millicom’s ownership in UNE will rise to nearly 100%, with a simplified structure intended to support streamlined operations and strategic integration in Colombia.

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Telecom M&A and Latin America specialist

Millicom is consolidating almost full ownership of its Colombian unit through a COP 2.1 trillion auction win.

Millicom has been awarded 100% of Empresas Públicas de Medellín’s remaining shares in UNE Telecommunicaciones S.A., known as Tigo Colombia. The winning bid was COP 418,741 per share, totaling about COP 2.1 trillion (approximately USD 571 million) under a Colombian Law 226 divestment process.

Once the transaction closes, expected on January 29, 2026, Millicom's ownership in UNE will increase to nearly 100%. The company states that this simplified ownership structure will allow it to further streamline operations in Colombia and advance strategic integration plans, concentrating control of mobile and fixed services under one corporate umbrella.

The impact will depend on how effectively Millicom executes these integration plans in Colombia. Future disclosures in company filings may provide more detail on post-closing operational changes and any financial outcomes from the consolidated structure.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of January, 2026.

Commission File Number: 001-38763

MILLICOM INTERNATIONAL CELLULAR S.A.

(Exact Name of Registrant as Specified in Its Charter)

8400 NW 36^th Street, Suite 530

Doral, FL 33166

United States

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F x Form 40-F ¨

MILLICOM INTERNATIONAL CELLULAR S.A.

INDEX TO FURNISHED MATERIAL

Item
______

1. Press release dated January 27, 2026.

PRESS RELEASE   

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 100% of EPM’s remaining shares in UNE EPM Telecommunicaciones S.A. (“UNE” or “Tigo Colombia”), following a winning bid in the public auction conducted by Empresas Públicas de Medellín E.S.P. ("EPM").

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 100%, following the successful completion of the public divestment process managed by EPM in accordance with Colombian Law 226.

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.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		MILLICOM INTERNATIONAL CELLULAR S.A. (Registrant)
		By:	/s/ Salvador Escalón
			Name:	Salvador Escalón
			Title:	Executive Vice President, Chief Legal and Compliance Officer

Date: January 30, 2026

FAQ

What transaction did Millicom (TIGO) announce in Colombia on its 6-K?

Millicom announced it was awarded 100% of Empresas Públicas de Medellín’s remaining shares in UNE Telecommunicaciones S.A. (Tigo Colombia). This follows a winning bid in a public auction, consolidating Millicom’s ownership in UNE to nearly 100% after completion.

How much is Millicom (TIGO) paying for the UNE Telecommunicaciones shares?

Millicom’s winning bid was COP 418,741 per share, representing total consideration of approximately COP 2.1 trillion. The filing notes this is about USD 571 million, reflecting the scale of the transaction within Millicom’s Colombian telecommunications operations.

When is Millicom’s acquisition of UNE Telecommunicaciones expected to close?

The transaction is expected to close on January 29, 2026. This timing is stated as being in accordance with the established auction rules that governed the public divestment process under Colombian Law 226 for Empresas Públicas de Medellín’s remaining shares.

How will this deal change Millicom’s ownership in UNE (Tigo Colombia)?

After the acquisition, Millicom’s ownership in UNE Telecommunicaciones S.A. will consolidate to nearly 100%. The company highlights that this simplified ownership structure should allow further streamlining of its Colombian operations and support acceleration of its strategic integration plans in the country.

Why did Empresas Públicas de Medellín sell its UNE stake to Millicom (TIGO)?

Empresas Públicas de Medellín sold its remaining UNE shares through a public auction as part of a public divestment process managed in accordance with Colombian Law 226. Millicom emerged with the winning bid, securing 100% of EPM’s remaining stake in UNE Telecommunicaciones S.A.

What strategic benefits does Millicom expect from nearly full ownership of UNE?

Millicom states that, upon closing, the simplified ownership structure in UNE will let it further streamline operations in Colombia and accelerate strategic integration plans. This implies closer alignment across its fixed, mobile, and digital services delivered under the Tigo Colombia brand.