EPM, Millicom Solidify Telco Tie-up

Jul 23, 2013

Millicom has agreed to the basic terms for merging its Colombian wireless operations with Empresas Publicas de Medellin’s (EPM) fixed-line operator UNE, the two parties say, following talks initiated earlier this year. The two will form a new combined entity in a transaction that values UNE at $2.1bn and the Colombia Movil business that operates the Tigo wireless brand...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management