Millicom (Tigo) signs agreement to acquire Entel Peru, expanding its presence across Latin America
Globe Newswire•13/11/2026•16:09 ET
0
Key Highlights
- ➤Entel Peru acquisition agreed for US$1,714 million, including lease liabilities
- ➤Purchase price equals 5.0x estimated 2026 EBITDA before synergies and integration costs
- ➤Millicom expects first-year equity free cash flow accretion after completion
- ➤Year-end 2026 leverage expected around 2.5x, including the acquisition
- ➤Closing expected in early December 2026, subject to customary conditions
Expert Statements
Marcelo Benitez, CEO of Millicom
“We are very excited about entering Peru, a great country with tremendous potential and an important new chapter in our growth journey across Latin America.”
Marcelo Benitez, CEO of Millicom
“Over the past few years, we have demonstrated our ability to successfully integrate new operations, improve customer experience and deliver strong financial results.”
Marcelo Benitez, CEO of Millicom
“We have a proven playbook built around our Double-E strategy: delivering the best customer Experience with the greatest Efficiency.”
Marcelo Benitez, CEO of Millicom
“We are confident in our ability to replicate that success in Peru.”
Marcelo Benitez, CEO of Millicom
“Entel Peru brings a strong network, loyal customers and a talented team.”
Marcelo Benitez, CEO of Millicom
“Together, we see a great opportunity to invest in connectivity, bring better services and greater value to Peruvian consumers and businesses, and contribute to the country’s digital development.”
Marcelo Benitez, CEO of Millicom
“Our focus remains the same: disciplined execution, profitable growth and sustainable cash flow generation.”
Marcelo Benitez, CEO of Millicom
“We look forward to welcoming the Entel Peru team to the Millicom family and building a successful future together.”
Millicom (Tigo) signs agreement to acquire Entel Peru, expanding its presence across Latin America
The transaction expands Millicom’s presence in investment-grade markets and is expected to be accretive to equity free cash flow in the first year following completion. Closing is expected in early December, subject to customary closing conditions.
Get started
Create a free account to read the full story.