Millicom To Grow Its LatAm Empire

Millicom International has been declared the winning bidder for a 50% plus one share at a cost of US$125mn in Colombia's No3 operator Colombia Movil, a joint venture between Empresa de Telecomunicaciones de Bogata (ETB) and Empresas Publicas de Medellin (EPM). The conclusion of the much delayed auction is welcome news for the operator, which has failed to turn a profit in the three years since being established in 2003. It also means that Colombia Movil, known under its brand name of Ola is now able to move on with its objective of expanding its market share. The operator has

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