UNE, Millicom merger given the green light
Juan Fernandez Gonzalez | 01 July 2014
Colombia's Asociación Nacional de TV (ANTV) has approved the merger of UNE-EPM and Millicom's Tigo. The company resulting from the merger will be among the largest pay-TV operators in the country.
UNE-EPM had launched a takeover offer for Tigo, which was accepted by Millicom's stockholders in April. Since then, both companies have been waiting for the OK from the country's TV authority.
With the merger, UNE-EPM is aiming to get a bigger slice of the market and start to compete for real with Colombia's two main telcos, Telefónica and Claro. Indeed, UNE-Millicom will surpass the Spanish company with regard to customer number from late August, when the merger is expected to conclude.
According to UNE, the operation looks to create a solid company of ICT services, trying to consolidate a convergent offer of telecom products in Colombia.
During recent years UNE-EPM has been trying to gain a stable position in several telecom sectors, especially in pay-TV, Internet and mobile communications. During 2013, it has started 4G deployment in Colombia, which has driven high revenues and a 10% growth in income.