Monday, 24 July 2017

Millicom renews its license in Colombia

Millicom
Tuesday 04 December 12

Millicom International Cellular S.A. (“Millicom”) (Stockholmsbörsen: MIC) today renewed its license in Colombia for a further 10 years…

Millicom International Cellular S.A. (“Millicom”) (Stockholmsbörsen: MIC) today renewed its license in Colombia for a further 10 years.

Colombia Movil (an affiliate of Millicom) renewed its license for another 10 years (up until February 2023). In February 2013, the company will pay COP 93,000 million (approximately USD51m). The final consideration to be paid for the renewal and 50 MHz of spectrum in the 1900 MHz spectrum band will be determined by the “Tribunal de Arbitramiento” (Arbitrage Court) in the next 12-18 months.

Hans-Holger Albrecht, President and CEO of Millicom commented “We are pleased to have renewed our license in Colombia today. Colombia is one of the fastest growing markets for us and we look forward to continue bringing innovative digital products and services to the people of Colombia through this license renewal.”


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