Millicom Acquires Telefónica Ecuador for USD 380 Million

Millicom International Cellular S.A. (Millicom) announced the successful completion of its USD 380 million acquisition of Telefónica’s telecommunications operations in Ecuador. This acquisition is part of Millicom’s strategy to deepen its presence in South America, following its recent acquisition of Telefónica Uruguay. The move expands Millicom’s footprint into Ecuador, a dollarized economy with strong macroeconomic fundamentals and a growing demand for digital services. Marcelo Benitez, CEO of Millicom, emphasized the company’s commitment to digital inclusion and innovation, aiming to connect people, opportunities, and futures through sustainable growth. With operations now spanning eleven countries, Millicom continues to invest in next-generation networks and services to support digital transformation in the region.