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)."

More on this topic

Millicom to Buy Out Celtel in Honduras

July 2010

Millicom International Cellular S.A today announced that Millicom and its local partner in Honduras have reached an agreement that gives Millicom full control of Celtel, its Honduran subsidiary.

Under the revised shareholders' agreement, the local partner has granted Millicom an unconditional call option for his 33% stake for the next five years.

El Salvador: Amnet Operates Under Tigo Brand

May 2009

El Salvador is the first country in Central America where there was a complete merger.

Tigo’s parent company, Millicom International Cellular S. A., invested $14 million to expand Amnet's network in the country.

La reported statements by Ignacio Baratelli, CEO of Tigo El Salvador: "Amnet is now Tigo.

Swedish firm buys AMNET for $510 million

July 2008

The Swedish firm Millicom has purchased the telecommunications company AMNET for 510 million dollars, and will acquire its 350,000 cable clients in Honduras, Costa Rica and El Salvador.

AMNET offers services of cable television, telephone and internet as a multimedia "Triple Play" package.

Millicom sees 78% increase in net profit in Q1

April 2008

Luxembourg-based mobile holding company Millicom Cellular International (Nasdaq: MICC), which operates in the Latin American region under the Tigo brand, continued to see strong growth in its traditional stronghold of Central America, with Honduras outstripping other countries in terms of subscriber growth, growing 88% and adding 515,000 subscribers.

Millicom posted a 78% increase in net profit to US$158mn in the first quarter of 2008 compared to US$89mn in 1Q07, the company said in a statement.

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