Millicom Subsidiary Tigo Colombia To Sell ~1,100 Wireless Communications Towers To Affiliates Of Investment Funds Managed By KKR; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Tigo Colombia, a subsidiary of Millicom, has agreed to sell approximately 1,100 wireless communications towers to affiliates of investment funds managed by KKR. The terms of the deal were not disclosed. KKR intends to lease the towers back to Tigo Colombia to support its wireless networks, in partnership with NEXO LatAm, a platform aiding KKR's infrastructure strategy in Latin America.
January 24, 2024 | 10:59 pm
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POSITIVE IMPACT
KKR's acquisition of wireless towers from Tigo Colombia expands its digital infrastructure footprint in Latin America. The partnership with NEXO LatAm could enhance KKR's infrastructure strategy in the region.
KKR's purchase of the towers is a strategic move to grow its digital infrastructure investments in Latin America. The collaboration with NEXO LatAm is likely to be viewed positively by investors, potentially leading to a short-term uptick in KKR's stock price.
CONFIDENCE 60
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Tigo Colombia's sale of wireless towers to KKR affiliates could streamline operations and focus on core services, potentially improving financials. Terms undisclosed, impact on stock uncertain without financial details.
The sale of assets like wireless towers can lead to a more efficient capital structure and allow Tigo Colombia to focus on its core business. However, without the financial terms, it's difficult to assess the deal's impact on TIGO's stock price in the short term.
CONFIDENCE 50
IMPORTANCE 60
RELEVANCE 70