Millicom and NJJ completed the acquisition of the operations in Chile from Telefónica for $1.2bn.

Millicom, a provider of fixed and mobile telecommunications services, and NJJ, a French holding company controlled by Xavier Niel, completed the acquisition of the operations in Chile from Telefónica, a telecommunications company, for $1.2bn. "This transaction reflects Millicom’s disciplined and pragmatic approach to long-term value creation in Latin America. Partnering with NJJ allows us to combine complementary strengths while preserving financial discipline, balance-sheet protection, and strategic flexibility. We are taking an option on a large and important market through a thoughtful structure that limits upfront risk, isolates leverage, and fully protects Millicom from recourse," Marcelo Benitez, Millicom CEO.