Millicom invests to become the clear market leader in Panama and Central America
Millicom invests to become the clear market leader in Panama and Central America
has already invested more than $2 billion to enter Panama and plans to invest an additional $750 million in the country over the next 5 years
• Cable Onda and Movistar teams begin to integrate into a seamless customer-centric company to expand digital highways in Panama
Luxembourg and Panama City, September 9, 2019- Following the acquisitions of Cable Onda, the leading cable operator in Panama, and of Movistar, the leading mobile operator in the country, Millicom (NASDAQ: TIGO) is now positioned as the clear telecommunications market leader in Panama and Central America. Cable Onda currently serves more than 350,000 residential customers and is the largest provider of B2B fixed telecommunications services, while Movistar adds more than 1.6 million mobile subscribers to this customer base.
During an event held in Panama City today, CEO Mauricio Ramos commented: “This is a great milestone in our growth journey. Today, we officially welcomed the team that has built Movistar to become the leader in Panama’s competitive mobile market to the TIGO family. Together with the dedicated team at Cable Onda, we are now best positioned to provide Panamanians with the high-quality fixed and mobile services they expect. I am very confident in our long-term growth opportunity in Panama and Central America. Our significant investments demonstrate our commitment to supporting strong economic growth in the region for years to come.”
Millicom is highly committed to continue investing in Central America, as it has been doing in South America. In the specific case of Panama, TIGO has invested more than $2 billion in the country in the past year with the acquisitions of Cable Onda and Movistar. For the next 5 years, TIGO plans to make additional investments of approximately $750 million for cutting-edge network infrastructure, state-of-the-art data centers, spectrum, and other services.
A Single Integrated Company
With the acquisition of Telefónica's operations in Nicaragua, Costa Rica and Panama, TIGO is the only convergent operator in each of its 9 Latin American markets. The company has already completed its acquisitions in Nicaragua and Panama and expects to complete the Costa Rican acquisition in the near term. In Panama, the Cable Onda and Movistar teams are joining forces to bring the most comprehensive and convergent fixed and mobile services to customers. The integrated company will have a highly skilled workforce of approximately 5,000 employees. TIGO is proud to have been rated as one of the best employers in the telecommunications sector in Latin America for the past two years, ranking in the top 25 of multinational companies of the "Great Place to Work".
The Digital Highways
TIGO is focused on the deployment of high-speed data networks, providing access to the digital economy for millions of Central Americans. During the event held in Panama City with employees, customers and government representatives, Mr. Ramos presented a vision of the opportunities and potential that 5G networks will bring to the country by showcasing the first-ever holographic call in Panama and in Latin America. This holographic call, with professional soccer player Jaime Penedo, in the presence of his Excellency Mr. Laurentino Cortizo Cohen, President of the Republic of Panama, and in association with Ericsson, presents a milestone in the history of telecommunications in Latin America.
Courtesy visual available [download].
For further information, please contact:
Vivian Kobeh, Corporate Communications Director
+1 786 628 5300
Michel Morin, VP Investor Relations
+1 786 628 5270
Sarah Inmon, Investor Relations Manager
+1 786 628 5303
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle services through its principal brand, TIGO. As of December 31, 2018, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 50 million customers, with a cable footprint of more than 10 million homes passed. Founded in 1992, Millicom International Cellular S.A. is headquartered in Luxembourg.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Conversion factor for Exchange offer in SGB IL 3102 2019-09-2020.9.2019 11:04:00 CEST | Press release
2019-09-20 Conversion factor SGB IL 3102/3112; 4.7652335 The conversion factor of SGB IL 3102/3112 indicates the amount of SGB IL 3102 that the SNDO will buy back for each SGB IL 3112 issued in the switch auction at September 20, 2019. For further information, please contact: The funding desk + 46 8 613 4780 Funding@riksgalden.se
Buy-back yield SGB IL 3102 2019-09-2020.9.2019 10:45:00 CEST | Press release
2019-09-20 Buy-back yield SGB IL 3102; -2.1100% The buy-back yield of SGB IL 3102 is the yield at which the SNDO will buy SGB IL 3102in the switch auction vs SGB IL 3112 on September 20, 2017. For more information, please contact: The funding desk + 46 8 613 4780 FO@riksgalden.se
Jays Headphones announce partnership with Princeton Ltd in Japan20.9.2019 10:30:00 CEST | Press release
General press release Swedish lifestyle and audio product developer Jays Headphones announce a new partnership for distribution in Japan, one of the biggest heaphone markets. Starting September Princeton Technology Ltd, one of the leading distributors of consumer electronics and accessories in Jap an, will start distributing Jays Headphones. Northbaze Group (publ) announces a new partnership for distribution of Jays headphones in Japan, starting Q3 2019. The agreement involves Jays current and future product range including their latest launch, m-Seven True Wireless. Princeton Techonlogy Ltd was founded in 1995 and has a strong position on the the Japanese Consumer Electronic market. Princeton offers a wide variety of digital gadgets and accessories for tablets and smartphones and supply all major retail and e-tail channels in Japan. “I’m very excited about this partnership. Japan is a huge headphone market with a lot of potential. With Princeton I am confident that we have found the r
Jays Headphones inleder samarbete med Princeton Ltd i Japan20.9.2019 10:30:00 CEST | Pressemelding
Generellt pressmeddelande Svenska livsstilsvarumärket och hörlurstillverkaren Jays inleder nytt samarbete för distribution i Japan, en av världens största marknader för hörlurar. Från och med september kommer Princeton Techonlogy Ltd att distribuera Jays produkter i Japan. Princeton är av de ledande distributörerna i konsumentelektronik på den japanska marknaden. Northbaze Group ägda Jays Headphones tillkännager ett nytt partnerskap för distribution och försäljning av Jays i Japan, med start i Q3 2019. Avtalet innefattar Jays nuvarande och kommande sortiment inklusive den nyligen lanserade ”m-Seven True Wireless”. Princeton Technology Ltd som grundades 1995 har en lång erfarenhet från japanska konsumentelektronikmarknaden. Sortimentet består i huvudsak av tillbehör till smartphones och surfplattor. Man levererar och har nära relationer med samtliga ledande detalj- och e-handels butiker i Japan. ”Jag har stora förväntningar på detta samarbetet. Japan är efter USA världens andra största
Better Collective invests in Mindway AI; artificial intelligence technology for safer gambling20.9.2019 08:45:00 CEST | Press release
Regulatory release 29/2019 Better Collective has acquired 19,99% of the shares in Mindway AI, who specialises in innovative and advanced software solutions for the identification of at-risk gambling and problem gambling behaviour. The investment aligns Better Collective’s vision to empower iGamers and help establishing an entertaining and safe betting environment. The world’s leading developer of digital platforms for bookmaker information, tipster communities, and betting tips, Better Collective, has acquired 19,99% of the Danish software company, Mindway AI A/S, for a total price of 4 million DKK. Better Collective will under certain performance-based conditions acquire the remaining shares at a price of 20 million DKK. Furthermore, Better Collective has provided a loan of 4 million DKK to the company. Provider of early detection and intervention solutions for safer gambling Mindway AI is an award-winning company that specialises in software solutions that can identify at-risk gambli
Ålandsbanken, ICA Banken, Ikano Bank, Söderberg & Partners och Borgo startar hypoteksbolag tillsammans20.9.2019 08:00:00 CEST | Pressemelding
Ålandsbanken Abp Börsmeddelande 20.9.2019 kl. 9.00 Ålandsbanken, ICA Banken, Ikano Bank, Söderberg & Partners och Borgo startar hypoteksbolag tillsammans Ålandsbanken, ICA Banken, Ikano Bank, Söderberg & Partners och Borgo har tecknat avtal angående att etablera ett gemensamt hypoteksbolag på den svenska marknaden. - Att lansera ett nytt hypoteksbolag tillsammans med så starka och etablerade partners som ICA Banken, Söderberg & Partners och Ikano Bank säkerställer långsiktighet och stabilitet och ger bra förutsättningar att erbjuda bolån till bra villkor. Detta gynnar oss och våra samarbetspartners men naturligtvis även svenska bolånekunder i slutändan, säger Peter Wiklöf, vd på Ålandsbanken. Ålandsbanken och deras dotterbolag Crosskey kommer att tillhandahålla plattformslösningar för det nya hypoteksbolaget liksom bidra med befintlig kunskap om bolånehantering. - Genom att etablera ett nytt hypoteksbolag kan vi konkurrera på bolånemarknaden på ett helt nytt sätt och flytta fram våra p