: Millicom subsidiary Tigo Colombia agrees to sell 1,100 towers to KKR

Millicom subsidiary Tigo Colombia has agreed to sell 1,100 telecom towers to US investment firm KKR. This deal will see KKR lease the wireless communications towers to Tigo Colombia to support its wireless networks. KKR has also revealed plans to work with digital infrastructure platform NEXO LatAm, which supports the implementation of KKR's infrastructure strategy throughout Latin America.

Mauricio Ramos, CEO and chairman of the board of Millicom, said, “This transaction with KKR, a leading digital infrastructure franchise with deep sector expertise and commitment to the region, is another step towards crystallizing the value of our tower sites across Latin America, simplifying our business, and allowing us to focus on servicing our customers.”

He added, "This transaction enhances our operational and capital efficiency in Colombia, with long-term lease obligations denominated in Colombian pesos, consistent with our objective of increasing our proportion of financing in local currency.”