On February 20, 2019, Millicom announced the payment of US$1.65 billion to acquire leading mobile assets in Panama, Costa Rica, and Nicaragua. Millicom confirmed entering into agreements with Telefónica S.A. and certain of its affiliates (“Telefonica”), to acquire the entire share capital of Telefonía Celular de Nicaragua, S.A.

While on May 16, 2019, Millicom issued a press release confirming closing the transaction for the acquisition of Telefonía Celular de Nicaragua, S.A., the number one mobile operator in the country, adding to its existing cable operation of TIGO Nicaragua.

Acquisition highlights:

  • #1 mobile operator in a two-player market
  • 2018 revenue of $232 million, nearly 50% of which are denominated in US dollars, and Adjusted EBITDA of $92 million, resulting in a margin near 40%

Data Statistics

World Bank 2018

 Population: 6.217 million

 GDP real growth: -3.8% 

 GNI per capita: $2,130

 Mobile reach: 115% 

 Internet reach: 27.1%