Millicom wins full control of Tigo Colombia in $571M copart auction
Millicom has secured full control of UNE EPM Telecommunicaciones S.A., known as Tigo Colombia, after a successful copart auction. The company won 100% of EPM's remaining shares with a bid valued at roughly USD 571 million. This move pushes Millicom's ownership in the Colombian telecom operator to nearly 100%.
The auction saw Millicom submit a winning offer of COP 418,741 per share, amounting to around COP 2.1 trillion. The deal marks the final step in consolidating EPM's stake in the business.
Once finalised, the transaction will simplify UNE's ownership structure. Millicom expects this change to streamline operations and speed up strategic plans in Colombia. The closing date is set for January 29, 2026. Marcelo Benitez will take on the role of Millicom's Chief Executive Officer at the time of completion. His leadership will coincide with the finalisation of EPM's exit from the company.
The acquisition will give Millicom almost full ownership of Tigo Colombia. With a clearer structure, the company aims to integrate its Colombian operations more efficiently. The deal's completion in early 2026 will mark the end of EPM's involvement in the telecom provider.
