Millicom, headquartered in Luxembourg, yesterday announced that it has closed the acquisition of Telefonía Celular de Nicaragua, S.A.
This acquisition of the number one mobile operator in the country will add to its existing cable operation of TIGO Nicaragua and is the first transaction to close since Millicom announced in February an agreement to acquire three subsidiaries of Telefónica in Central America in Panama, Costa Rica and Nicaragua.
Telefonía Celular de Nicaragua, S.A. will add approximately four million mobile customers to TIGO with a 4G network accessible to 51% of the population in Nicaragua. The transaction accelerates the execution of Millicom's fixed-mobile convergence strategy, helps consolidate the company's leadership position in Central America and diversifies and balances the geographic footprint of the company in its mission to build digital highways that connect more users and develop communities throughout the region.
