Millicom Expands South American Reach with Telefónica Ecuador Acquisition
Deal News | Jun 13, 2025 | Globenewswire
Millicom International Cellular S.A. has signed a definitive agreement to acquire Telefónica's telecommunications operations in Ecuador for USD 380 million. This move is seen as a strategic endeavor to solidify Millicom’s position in Latin America, expanding its footprint in Ecuador, which is characterized by a stable, dollarized economy. The acquisition not only boosts Millicom's operating scale but also enhances its geographic diversification, thereby reinforcing its long-term growth platform. With a supportive macroeconomic environment and a growing telecom sector, Ecuador offers a promising landscape for digital expansion and innovation. The transaction, pending regulatory approval, reflects Millicom's confidence in the region and its commitment to sustainable growth. This acquisition also aligns with Telefónica's strategy to realign its asset portfolio in Latin America.
Sectors
- Telecommunications
- Finance
Geography
- Ecuador – Ecuador is the location where the acquisition of Telefónica's operations is taking place, marking an expansion for Millicom.
- Latin America – Millicom, already operating in Latin America, is strengthening its presence in this region through the acquisition.
- Luxembourg – Millicom's headquarters are based in Luxembourg, establishing the company's origin and corporate strategy.
Industry
- Telecommunications – The article focuses on telecommunications, highlighting Millicom's acquisition of Telefónica Ecuador to expand its telecom services in the region.
- Finance – The acquisition deal valued at USD 380 million includes financial transactions and strategic growth considerations.
Financials
- USD 380 million – The transaction value for Millicom's acquisition of Telefónica's operations in Ecuador.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Millicom International Cellular S.A. | Bidding Company | Company | Millicom is acquiring Telefónica's operations in Ecuador to expand its telecommunications services in Latin America. |
| Telefónica | Selling Company | Company | Telefónica is selling its telecommunications operations in Ecuador as part of its strategy to reshape its portfolio in Latin America. |
| Marcelo Benitez | CEO of Millicom | Person | CEO of Millicom, commenting on the strategic importance of the acquisition. |