Millicom refutes Telefónica’s claim over Costa Rica purchase agreement
Luxembourg, April 29, 2020 – Millicom International Cellular S.A. refutes Telefonica’s recent public communications alleging that the conditions to closing the Share Purchase Agreement (SPA) for the acquisition of Telefónica’s operating subsidiary in Costa Rica have been met. Millicom further notes that, in the event that the pending regulatory approvals for the transaction are not issued by May 1, 2020, it intends to terminate the SPA in accordance with the terms of the agreement.
As communicated in the press release dated February 20, 2019, Millicom entered into the SPA on that date to acquire Telefonica’s Costa Rica mobile business subject to customary closing conditions, which included the issuance of required regulatory approvals, certain of which have not yet been issued. The SPA establishes an end date of May 1, 2020, after which either party may terminate the agreement.
Millicom will vigorously defend any action brought by Telefonica in this matter.
For further information, please contact
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Vivian Kobeh, Corporate Communications Director
Michel Morin, VP Investor Relations
Sarah Inmon, Investor Relations Manager
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle® services through its principal brand, TIGO. As of December 31, 2019, Millicom operating subsidiaries and joint ventures employed more than 22,000 people and provided mobile services to approximately 52 million customers, with a cable footprint of more than 11 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.
This information was prior to this release inside information and is information that Millicom is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 21:15 CET on April 29, 2020.