Stockholm-listed Millicom International Cellular has agreed to pay US$51m to renew its licence in Colombia.
Colombia Movil, which operates using the Tigo brand, can operate under the new licence until 2023, which renews its right to use 50MHz of…
Stockholm-listed Millicom International Cellular has agreed to pay US$51m to renew its licence in Colombia.
Colombia Movil, which operates using the Tigo brand, can operate under the new licence until 2023, which renews its right to use 50MHz of spectrum in the 1900MHz band.
“Colombia is one of the fastest growing markets for us and we look forward to continue bringing innovative digital products and services to the people of Colombia through this license renewal,” said Hans-Holger Albrecht, president and CEO of Millicom.
Millicom owns a 50% plus one share-stake in Colombia Movil in a public-private partnership, with state-owned operator ETB and state-owned utilities company EPM owning 25% stakes.
Tigo is the number three operator in Colombia with a market share of 10.6%, according to Millicom’s annual report for 2011.
