Liberty Latin America makes move on Millicom

Liberty Latin America has made a conditional non-binding offer to buy 100% of mobile and cable operator Millicom, which operates across nine Latin American markets and in Chad and Tanzania in Africa, principally though the Tigo brand.

Luxembourg-headquartered and NASDAQ and Stockholm-listed Millicom operates subsidiaries and JVs providing mobile services to about 51 million customers, with a cable footprint of about nine million homes.

The operator said that there was “no certainty that a transaction will materialise nor as to the terms, timing or form of any possible transaction” at this stage.

Liberty Latin America operates in 21 consumer markets and 30 B2B markets, with 5.3 million revenue generating units based on 6.6 million homes passed with its fixed network and 3.5 million mobile customers.

A combination of Liberty Latin America and Millicom would create one of the largest telcos in Latin America, enabling the combined company to compte with the likes of America Movil and Telefónica.