Monday , September 20 2021

The owner of VTR wants to buy the owner of the mobile operator Tigo

A company that owns VTR, Liberty Latin America, a wireless and cable carrier in South America and the Caribbean, has contacted Millicom International Cellular SA with an offer to purchase, sources reported familiar with this issue.

The agreement will create one of the largest telecom operators in Latin America, which will give the company greater ability to compete with some of the major players in the region, such as América Móvil, Telefónica SA and AT & T Inc.

"Freedom of Latin America," with the support of magnate John Meloin, has been talking with Millicom, a mobile communications and cable operator in Latin America and Africa for several weeks, but there is no certainty that an agreement will be reached. sources.

The company is looking for bank loans and financing from an investment firm, for example, a private investment fund, for the cash part of its offer.

Sources were asked not to be identified because the case is confidential. Liberty Latin America and Millicom did not respond to comments requests.

Millicom offers mobile communications services to nearly 51 million Tigo customers in nine Latin American countries. At the end of December, the Swedish investment company Kinnevik AB had 37.2% stake in Millicom. The company has reduced its portfolio of wireless towers around the world.

Liberty Latin America, which operates in more than 20 countries in Latin America and the Caribbean, was detached from Malcolm's Liberty Global Plc last year. Its brands include VTR, Flow, Liberty, More Mobile, BTC and Cabletica.

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