Millicom to invest USD 50 million to expand network in Latam

Millicom has received USD 50 million that will be used to modernize its mobile network and Internet connectivity in seven Latin American countries, where it operates under the Tigo brand.
The operation was carried out through the issuance of a senior bond for CO$ 144,000 million (equivalent to USD 50 million), which were subscribed by BID Invest, a private sector entity of the Inter-American Development Bank Group (IDB).
The financing will be used to modernize and expand its 3G, 4G and Internet networks in Bolivia, Colombia, El Salvador, Honduras, Nicaragua, Costa Rica and Paraguay. Norman Chavez, director of corporate affairs at Tigo Costa Rica, said, “The details on how the funds will be used, by country and project, are still in a definition stage.”
Recently, Millicom acquired Cable DX in Guatemala, while in Costa Rica it requested authorization from the regulator to buy regional cable operators Cable Zarcero and Cable Max.