Panama

In December 2018, Millicom closed its acquisition of an 80% controlling interest in Cable Onda, Panama's largest cable and fixed telecommunications services provider. See Press Release 

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 Telefónica Móviles Panamá.

Acquisition highlights:

#1 mobile operator in a four-player market with 1.6 million customers

4G network covers 74% of population

Revenue and Adjusted EBITDA CAGRs of approximately 4% and 7%, respectively, in 2015-2018, in US dollar terms

2018 revenue of $223 million and Adjusted EBITDA of $90 million, resulting in a margin near 41%

Dollarized economy and investment grade country increasing Millicom’s US dollar revenue sources