Millicom's Costa Rica Unit Tigo To Buy TeleCable Económico - Quick Facts

(RTTNews) - Millicom International Cellular SA (MICC, MIICF), a telecommunications and media company focusing in emerging markets in Latin America and Africa, Monday said it has agreed terms and conditions to acquire the business of TeleCable Económico TVE, S.A. and merge the company with its Costa Rican subsidiary. The agreement is subject to regulatory approval.

Millicom Cable Costa Rica, S. A., trading as Tigo, has made an application for the agreement to be sanctioned by the Superintendencia de Telecomunicaciones or SUTEL, the industry regulator.

If approved, the new company would have an extended geographical coverage and offer consumers a greater range of services and innovative products, the company noted.

According t the firm, the acquisition would also add momentum to the recent strategic moves made by the companies such as introducing faster internet, the development of apps for mobile devices for sports and music events and measures to reduce the digital divide.

Tigo in Costa Rica provides residential services such as cable and satellite TV, internet and home phone IP. It also provides data connection services to the corporate market, high speed internet, IP business telephony and many other local services.

In Stockholm, Millicom shares are currently trading at 589.50 Swedish kronor, up 0.08 percent.