Millicom Buys 55% of Navega for $60 million

With this transaction, Millicom International Cellular controls 100% of Navega.

Monday, March 16, 2009

Navega was created in 2000 by Comcel which is part of Millicom, the Spanish company Iberdrola, EDP in Portugal and Teco Energy in the US, and it provides data transport services in Guatemala, El Salvador, Honduras and Nicaragua.

Mario Zanotti, Latin America director for the company told El Periódico of Guatemala that with the purchase, “Millicom will be able to ensure the quality and availability of transmission services for its three mobile operators (Tigo in Guatemala, Honduras and El Salvador) and benefit its consumers. It will also meet the growing demand for Internet access and extend broadband services for Third-Generation (3.5G)."

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