Millicom Signs Agreement to Acquire Entel Peru for $1.7 Billion

Key Facts

Millicom has signed a definitive agreement to acquire Entel Peru to strengthen its position in the Latin American telecommunications market. GlobeNewswire reported that the transaction is valued at $1.714 million, including lease liabilities, representing a multiple of 5.0x estimated 2026 EBITDA. The purchase price is structured in three installments, with 65% payable at closing, 10% after twelve months, and the final 25% due eighteen months after the closing date.

The acquisition is designed to expand Millicom's footprint to 13 markets, advancing its geographic diversification strategy within investment-grade economies. The company stated that the deal remains subject to customary closing conditions, with group leverage expected to remain around 2.5x by year-end 2026 following the integration. Millicom currently serves more than 65 million customers through its Tigo brand across the region.