Costa Rica

In February 2019, Millicom announced payment of US$1.65 billion to acquire leading mobile assets in Panama, Costa Rica, and Nicaragua. See Press Release 

Luxembourg, 20 February 2019: Millicom International Cellular S.A. (“Millicom” or “the Company”) announced today it has entered into agreements with Telefónica S.A. and certain of its affiliates (“Telefonica”), to acquire the entire share capital of S.A., Telefónica de Costa Rica TC, S.A. (and its wholly owned subsidiary, Telefónica Gestión de Infraestructura y Sistemas de Costa Rica, S.A.).

Acquisition highlights:

#2 mobile operator in a three-player market with 2.4 million customers

4G network covers 85% of population

Revenue CAGR of approximately 13% in 2015-2018, in US dollar terms, drove much faster EBITDA growth over the period

2018 revenue of $253 million and EBITDA of $60 million, resulting in a margin near 24%