Millicom’s Tigo continues to expand its 4G LTE network in Colombia, having now deployed antennas in rural Valdivia municipality, Antioquia department.
The region is known for its coffee planting and livestock culture.
Tigo is Colombia’s third biggest mobile carrier, after Claro and Movistar. It ended 2022 with around 15mn mobile subscribers, according to statistics from regulator CRC, up from 14.5mn at the end of 2021.
Overall, Colombia had over 80mn mobile accesses as of the end of last year, an increase of 7.7% compared with 2021.
Some 40.1mn were for mobile internet (3G and 4G) users, up from 37.9mn at the end of 2021, with Tigo accounting for 7.04mn.
Recently, Tigo and Movistar brokered an agreement to look into developing a shared mobile access network in the country.
Tigo also reached an agreement to renew its 1.9GHz spectrum license in Colombia for 20 years.
Overall, Millicom’s 1Q23 revenue was down 2.8% year-on-year to US$1.37bn, which it mostly attributed to currency depreciation. Excluding currency impacts, revenue was up 2.2%.
Its B2B service revenue increased 6%, while mobile growth was 1.9%, driven by 8.8% growth in postpaid.
After the failed takeover talks with Apollo Global Management and Claure Group, Millicom has reviewed its long-term targets.
The company said that potential asset monetizations and partner equity funding in Colombia could add an estimated US$100mn-150mn to its cash flow.
The company is scheduled to release its 2Q23 results on July 27.
Source: https://www.bnamericas.com/en/news/millicoms-tigo-further-expands-4g-coverage-in-colombia