In a press release issued on January 25, Millicom, a multinational providing telecommunications services under the Tigo Brand in nine Latin American countries, has confirmed that the company is discussing the sale of all its outstanding shares with Apollo Global Management and Claure Group. Millicom made the oficial announcement about the negotiations after British newspaper Financial Times had reported the news.
Apollo is an asset managing company already doing business in the telecommunications area. Claure Group, owned by Bolivian businessman Marcelo Claure, has got plenty of experience in the industry in connection with Sprint Corporation, Brightstar Corporation and Softbank. According to the Financial Times, both companies will partner to acquire Millicom for an amount approaching USD 9 billion.
The press release issued by Millicom reads the following: “There is no certainty that a transaction will materialize nor as to the terms, timing or form of any potential transaction.”
Tigo provides Pay TV, Internet and fixed phone services in the región and it operates in Colombia, Bolivia, Paraguay, Panama, Costa Rica, Nicaragua, Honduras, El Salvador and Guatemala.