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Millicom completes $440 million acquisition of Telefónica in Uruguay By Investing.com
Millicom has finalized its $440 million acquisition of Telefónica's Movistar in Uruguay, enhancing its presence in South America amid a competitive telecommunications landscape.
- Millicom International Cellular S.A. completed its acquisition of Telefónica Móviles del Uruguay S.A. (Movistar) for an enterprise value of $440 million, approved by the Uruguayan government.
- The transaction enhances Millicom's market position in Uruguay, where it aims to expand its telecommunications services amid increasing competition in the South American region.
- With a current valuation of $8 billion and shares trading at $47.86, Millicom's strategic move reflects its commitment to growth in the Latin American telecommunications market.
Why It Matters
This acquisition is significant as it positions Millicom to strengthen its foothold in the lucrative South American telecommunications sector, responding to market dynamics and consumer demand for enhanced connectivity and services.