Millicom International Cellular S.A. is set to acquire Telefónica’s telecommunications operations in Ecuador for USD 380 million.
This move aligns with Telefónica’s strategy to restructure its Latin American portfolio.
The acquisition presents Millicom with a strategic opportunity to strengthen its footprint in South America.
It also allows the company to expand into a stable, dollarized economy with strong macroeconomic fundamentals.
Marcelo Benitez, Millicom’s CEO, emphasized that the deal reflects their lasting confidence in Latin America and commitment to intentional, sustainable growth.
The completion of the transaction is subject to regulatory approvals and other closing conditions.