economy
April 24, 2026
Millicom, parent company of Tigo, acquires state's stake in Coltel after auction
Millicom disbursed 214.4 million dollars to acquire the 67.5% of shares that Telefónica owned in Colombia Telecomunicaciones S.A.. Photo: Tigo and iStock
TL;DR
- Millicom, the parent company of Tigo, has acquired the state's remaining shares in Coltel through a public auction.
- The transaction involved the sale of 1,108,266,271 ordinary shares offered at a minimum price of $772.38 per share.
- The total value of the operation, as reported by the Colombian Stock Exchange, was $856,002 million Colombian pesos.
- This sale represents the government's exit from end-user telecommunication services as part of an asset optimization strategy.
- The government will maintain a presence in the infrastructure sector through Internexa.
- The Comptroller General of the Republic is conducting a preventive follow-up on the sale, focusing on the destination of the public funds and their economic and social impact.