We are advising Millicom on the transaction

Davis Polk is advising Millicom on the $2.2 billion acquisition of the remaining 45% equity interest in its joint venture businesses in Guatemala, Tigo Guatemala, from Millicom’s local partner. As a result, Millicom will own a 100% equity interest in Tigo Guatemala. The transaction is expected to close today.

Millicom is a leading provider of fixed and mobile services dedicated to emerging markets in Latin America and Africa. As of September 30, 2021, Tigo Guatemala was the leading mobile player with 11.6 million subscribers, the leading broadband internet provider with 392,000 subscribers, and the second-largest pay TV provider with 567,000 customers, in Guatemala.

The Davis Polk corporate team includes partner William H. Aaronson and associate Steven Jaffe. Partner John B. Meade and associate Michael Schuster are providing capital markets advice. All members of the Davis Polk team are based in the New York office.

Copy link to share post