Millicom completed the acquisition of a 67.5% stake in Coltel from Telefónica for $214m.

Millicom, a provider of fixed and mobile telecommunications services, completed the acquisition of a 67.5% stake in Coltel, a Colombian telecommunications provider, from Telefónica, a telecommunications company, for $214m. “This acquisition marks a decisive step in strengthening our long-term commitment to Colombia. It gives us greater scale, resilience, and investment capacity at a moment when the sector needs focus and conviction. With this platform, we can move faster in deploying fiber and 5G, expanding coverage, and raising service quality for millions of Colombians. Colombia is a core market for Millicom, and we will continue to work closely with regulators and all stakeholders to ensure that our investments foster competition, accelerate digital inclusion, and support sustainable growth," Marcelo Benitez, Millicom CEO.