Millicom Acquires Remaining UNE EPM Shares for COP 2.1T
Millicom announced that it has been awarded 100% of EPM's remaining shares in UNE EPM Telecommunicaciones following a winning bid in the public auction conducted by Empresas Publicas de Medellin. Millicom's bid was COP 418,741 per share, representing a total consideration of approximately COP 2.1T, or $571M. This acquisition consolidates Millicom's ownership in UNE to nearly 100%, following the successful completion of the public divestment process managed by EPM in accordance with Colombian Law 226. The transaction is expected to close on January 29, in accordance with the established auction rules.
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Millicom Successfully Acquires Remaining Stake in UNE
- Acquisition Success: Millicom successfully bid for EPM's remaining shares in UNE at COP 418,741 per share, totaling approximately COP 2.1 trillion (about USD 571 million), marking nearly 100% ownership in UNE.
- Closing Timeline: The transaction is expected to close on January 29, 2026, in accordance with auction rules, further simplifying Millicom's ownership structure in Colombia.
- Operational Integration: This acquisition will enable Millicom to streamline its operations in Colombia and accelerate its strategic integration plans, enhancing its competitive position in the market.
- Market Impact: The acquisition not only strengthens Millicom's position in the Latin American telecommunications market but also expands its range of digital services and products, likely driving further growth in the region.
Millicom International Cellular SA (TIGO) Shows Strong Momentum: Is It a Good Investment?
Momentum Investing Overview: Momentum investing involves buying stocks that are trending upwards, with the expectation that they will continue to rise. The Zacks Momentum Style Score helps identify stocks with strong momentum characteristics.
Millicom International Cellular SA (TIGO): TIGO currently holds a Momentum Style Score of B and a Zacks Rank of #1 (Strong Buy), indicating strong potential for performance based on recent price trends and earnings estimate revisions.
Performance Metrics: TIGO's shares have increased 4.67% over the past quarter and 113.11% over the last year, significantly outperforming the S&P 500, which has seen much lower gains in the same periods.
Earnings Estimates and Trading Volume: Recent upward revisions in earnings estimates for TIGO, along with a solid average trading volume of 756,143 shares, suggest a bullish outlook for the stock, making it a strong candidate for investors seeking momentum picks.
