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 Telefonía Celular de Nicaragua, S.A.

Acquisition highlights:

#1 mobile operator in a two-player market with 4.7 million customers

4G network covers 51% of the population

Revenue has declined at a 2.5% CAGR in US dollar terms in 2015-2018, due in part to a weaker currency and to slower overall economic activity

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%