Liberty LATAM ends Millicom buyout talks
Details
Joseph O'Halloran
| 23 January 2019

Just over a week after confirming it was in talks regarding a potential acquisition of the Latin American and African cable and mobile services provider, Liberty Latin America has revealed that the takeover talks have come to an end.

In a brief statement, Liberty simply stated that had ‘terminated conversations’ with Millicom and that it remained “focused on its growth strategy to deliver value for shareholders and provide market leading products and services to its customers.”

Founded in 1992 and officially registered in Luxembourg, Millicom provides digital lifestyle services through its principal brand, Tigo. Its operating subsidiaries and joint ventures employ more than 19,000 people and provide mobile services to approximately 51 million customers, with a cable footprint of more than 9 million homes passed. In April 2018, Millicom launched Tigo One TV in Costa Rica, kicking off the expansion of next-gen TV services across Latin America.

Even though it confirmed on 15 January that talks with Liberty had indeed taken place, Millicom warned that there was no certainty that a transaction would materialise nor as to the terms, timing or form of any possible transaction. Similarly, Liberty Latin America cautioned at the time that there was no assurance that any transaction would proceed or what the deal terms would be. It added that it did not intend to make any further comment until such time as a definitive decision has been made.