In January 2026, Millicom won all remaining shares of UNE‑EPM (operating entity of Tigo Colombia) held by Empresas Públicas de Medellín (EPM) through a public auction. The winning bid was announced on 27 January, and the transaction closed on 29 January. Millicom obtained nearly 100% ownership of Tigo Colombia, while EPM exited the telecommunications business.
The transaction covered the entire 50% equity stake owned by EPM, with a total consideration of 2.1 trillion Colombian pesos, equivalent to 571 million US dollars. Upon completion, Millicom’s shareholding rose from the original 50% to nearly 100%. EPM will cease telecommunications operations and refocus on its core public utilities including water, electricity and gas.
The simplified shareholding structure removes decision-making constraints arising from the previous dual-shareholder setup and will accelerate infrastructure investment for Tigo Colombia’s communications network. For the A2P SMS business, this helps resolve persistent SMS delivery delays observed throughout 2025. Implementation efficiency for regulatory mandates such as SMPP leased line expansion, IPv6 migration and anti-fraud system upgrades will improve. Negotiations on operator wholesale rates and channel expansion procedures will also become more streamlined.
