Millicom International Cellular to acquire Telefónica Ecuador for $380m.

Millicom International Cellular, a provider of fixed and mobile telecommunications services, agreed to acquire Telefónica Ecuador, a telecommunications company, for $380m. "This acquisition reflects our long-term confidence in Latin America and our commitment to purposeful, sustainable growth. Ecuador offers a dynamic and growing digital market within a stable, dollarized economy, making it a natural fit for Millicom’s strategy. By expanding our presence in South America, we strengthen our platform for innovation, diversification, and long-term value creation,” Marcelo Benitez, Millicom CEO.