Millicom Takes Full Control of Tigo Colombia, Raising Questions on Valuation Gap

Millicom International Cellular has acquired Empresas Públicas de Medellín's remaining shares in UNE, giving it nearly full ownership of Tigo Colombia. This consolidation is expected to simplify governance and integration of its Colombian operations. As an investor, the key point is that Millicom now has tighter control over one of its core country operations, allowing it to apply a single playbook on capital allocation, network investment, and product strategy in the country.