Millicom announces spectrum purchases

Millicom announces spectrum purchases

Luxembourg, December 21, 2019 – Millicom announces that, as a result of the auction carried out in Colombia yesterday by the Ministerio de Tecnologias de la Informacion y las Comunicaciones (MINTIC), Colombia Móvil S.A. E.S.P., a wholly-owned subsidiary of UNE EPM Telecomunicaciones S.A. in which Millicom owns a 50% plus one voting share interest, acquired licenses granting the right to use a total of 40 MHz in the 700 MHz band. The 20-year license will expire in 2040. As a result of this auction, Colombia Móvil has strengthened its spectrum position, which also includes 55 MHz in the 1900 band and 30 MHz of AWS.

Colombia Móvil agreed to a total notional consideration of COP$2.45 billion (equivalent to approximately US$736 million), of which approximately 45% is to be met by coverage obligations implemented by 2025. The remaining 55% is payable in cash with an initial payment of approximately US$39 million, with the remainder payable in 12 annual installments beginning in 2026 and ending in 2037.

Additionally, Millicom announces that Millicom’s subsidiary, Telemóvil El Salvador, S.A. de C.V., agreed to acquire 5 blocks of 10 MHz each for a total of 50 MHz in the AWS band as a result of a recent auction carried out by the Superintendencia General de Electricidad y Telecomunicaciones (SIGET) in El Salvador. The spectrum license purchase is subject to final approval by SIGET, which had established a reserve price of $6.25 million per block.  

-END-

For further information, please contact

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle services through its principal brand, TIGO. As of December 31^st, 2018, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 50 million customers, with a cable footprint of more than 11 million homes passed. Founded in 1992, Millicom International Cellular S.A. is headquartered in Luxembourg.

Attachment

• Millicom announces spectrum purchases