Telecommunications: Investments in Nicaragua

After Telefónica was acquired by Millicom, the company plans to invest $1.25 billion in the next five years to expand the network and its services to companies in the country.

Tuesday, May 21, 2019

On May 16, Millicom reported that it closed the acquisition of Telefonía Celular de Nicaragua, S.A., the number one mobile operator in the country, in addition to TIGO Nicaragua's existing cable operation.

The company's statement explained that this is the first transaction to be closed since Millicom announced in February an agreement to acquire three Telefónica subsidiaries in Central America in Panama, Costa Rica and Nicaragua.

See “Telefonica Completes Sale of Assets in Nicaragua

Mauricio Ramos, CEO of Millicom in the region, explained to that the company comes with "... an investment plan that is not only the acquisition, but is a strong investment plan in network expansion, capacity expansion, expansion of services for small and medium enterprises.”

Also see "Telecom: Regional Market Transformed"

Ramos added that in the country will "... invest in the next 5 years about 1.25 billion dollars at a rate of almost a quarter of a billion dollars a year. It's a big deal, because we believe the Nicaraguan economy needs strong digital highways with a lot of investment to leverage its entry into the digital economy of the 21st century.

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