Millicom and EPM agree capital infusion for Tigo-UNE.
NORDIC BUSINESS REPORT-October 13, 2023-Millicom and EPM agree capital infusion for Tigo-UNE
(C)2023 M2 COMMUNICATIONS http://www.m2.co.uk
Millicom International Cellular S.A. (NASDAQ:TIGO) (STO:TIGO-SDB), a provider of fixed and mobile telecommunications services in Latin America, announced on Friday an agreement with Colombian public utility company Empresas Públicas de Medellin (EPM) to jointly capitalize communications provider UNE EPM Telecomunicaciones S.A. (Tigo-UNE).
Under this agreement, the partners will each inject COP300bn (approximately USD71m), resulting in a total capital contribution of approximately USD142m to bolster Tigo-UNE's financial position and support its ongoing business strategy.
Both partners will maintain their existing ownership stakes in Tigo-UNE. Additionally, the 2013 shareholders' agreement is being amended to include: (a) the introduction of a...
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