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News Breaks | | | | February 5, 2013 | | 08:13 EDT |  | MICC | Millicom, EPM in talks for potential combination of telecom units in Colombia
Millicom International Cellular has entered into exclusive negotiations with EPM regarding the possible combination of their Colombian telecom operations. The purpose of the negotiation is to evaluate the possibility of a merger between the holding company that owns 50% of Colombia Móvil- Tigo- and UNE EPM to create a leading integrated telecommunication operator in Colombia. The contemplated transaction would be a merger of equals and would be subject to regulatory approval. Under the terms provisionally discussed between the two parties, Millicom and EPM would contribute their respective telecommunication businesses in Colombia into a newly created entity. Should an agreement be reached, Millicom does not anticipate that its consolidated Net Debt to EBITDA ratio will exceed 1.5x. The discussions are expected to conclude during the first half of 2013. | |
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