The authorization request for Telefonica Costa Rica and Millicom’s merger -which operates in Latin America under the ‘Tigo’ brand- made a two-steps more advance in the process, which is still being developed at the Telecommunications Superintendence (Sutel). According to the entity, the request ‘has already finished the admissibility phase and the economic analysis was started’.
According to Juan Manuel Campos Avila, Ciber Regulations Regulatory Issues Consultant, the deadline to define the authorization is 30 business days, starting from the admissibility, which was published by Sutel last June 25th. This way, the authorization period would be completed during the first half of August. However, Campos Avila warned that the date could be extended for 15 business days more due to the complexity of the operation, although he estimated that it will finally be approved.
The transaction is focused in the 100% share capital of Telefonica Costa Rica TC S.A. by Millicom Spain S.L. Although the purchase was announced last February 20th, the companies filed the request at Sutel in April. From that moment, Sutel studied the admissibility and, after being admitted, it made the official publication to get comments from interested parties. Once that stage was over, the economic analysis began, and is being developed at present.