Millicom International Cellular S.A. shares rise 1.24% intraday after reaching strategic agreement with EPM for merger process with ColTel.

Millicom International Cellular S.A. rose 1.24% in intraday trading, following the announcement of a strategic agreement with EPM to facilitate the merger process with ColTel. The agreement includes Millicom's commitment to present an offer in EPM’s Law 226 sale process, with a minimum price of COP$418,741 per share of Tigo-UNE, representing a total consideration of approximately USD$520 million. This news is likely seen as positive for the company's acquisition strategy in Colombia.