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 [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)## Millicom takes 100% stake in Tigo Panama

 

 

   Details    Manny Pham    Category: [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)     30 June 2022     10465 views   

 

  ![Millicom takes 100% stake in Tigo Panama](https://developingtelecoms.com/images/stories/Places/800x600/Panama_city_600.jpg)  

 

Millicom deepened its hold in Latin America by taking full ownership of Tigo Panama, as part of wider plans to spread its operations in the country.

In a statement, Millicom said it acquired the remaining 20% of shares in n Telecomunicaciones Digitales formerly known as Tigo Panama, which the group claimed is the leading operator in Panama’s telecommunications market.

Millicom first acquired 80% of shares in Tigo Panama in 2018 from Cable Donda in a deal reportedly for over US$1 billion.

The market has been one of the major focuses for Millicom, as last year Millicom revealed it will[ invest US$250 million into ](https://developingtelecoms.com/telecom-business/telecom-investment-mergers/11522-millicom-confirms-major-investment-in-panama.html)it, which its local unit Tigo used to modernise fixed and mobile network.

Earlier this month Millicom outlined plans to [invest US$700 millio](https://developingtelecoms.com/telecom-business/operator-news/13581-millicom-to-inject-700m-into-central-america.html)n to bolster mobile and broadband networks in central American markets.

Millicom finalised its [divestment from Africa](https://developingtelecoms.com/telecom-business/operator-news/13302-millicom-international-cellular-closes-book-on-africa-business.html) with the sale of its Tanzanian unit in April to focus solely on emerging markets in Central and South American markets.

 

 

   
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