MILLICOM'S COLOMBIAN SUBSIDIARY SIGNS AGREEMENT TO SELL AND LEASE BACK TOWERS TO AMERICAN TOWER

LUXEMBOURG, July 18, 2017 /PRNewswire/ --Millicom International Cellular S.A. ("Millicom") announced today that its subsidiary Colombia Móvil S.A. E.S.P ("Tigo") has agreed to sell approximately 1,200 wireless communications Towers to a subsidiary of American Tower Corporation ("ATC") in Colo..


LUXEMBOURG, July 18, 2017 /PRNewswire/ --Millicom International Cellular S.A. ("Millicom") announced today that its subsidiary Colombia Móvil S.A. E.S.P ("Tigo") has agreed to sell approximately 1,200 wireless communications towers to a subsidiary of American Tower Corporation ("ATC") in Colombia. As a result of the transaction, Tigo will receive approximately 448 billion COP, equivalent to US$147 million, in cash.

As part of the transaction, Tigo and ATC have entered into a long-term agreement in local currency whereby ATC will lease to Tigo wireless communications towers to support its wireless networks. The specific number of towers and final purchase price will be determined once the various closings have taken place, which are subject to customary closing conditions and regulatory approval.

Mauricio Ramos, CEO of Millicom, said: "Colombia is our biggest operation in Latin America, where we have a strong focus on remaining competitive by bringing advanced infrastructure and services to our customers. Similar to the Paraguay transaction that we announced in April, this new agreement with American Tower Corporation enhances our operational and capital efficiency, while also allowing us to invest in improving the connectivity experience for our customers. The lease obligation is denominated in Colombian pesos, consistent with our objective of increasing our proportion of financing in local currency."

For further information, please contact

Press:

Vivian Kobeh

Corporate Communications Director

Tel: +1-305-476-7352 / +1-305-302-2858

press@millicom.com

Investors:

Michel Morin

VP Investor Relations

+352-277-59094

investors@millicom.com

Mauricio Pinzon

Investor Relations Manager

Tel: +44-20-3249-2460

investors@millicom.com

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SOURCE Millicom International Cellular

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Colombia: Colombia , officially the Republic of Colombia , is a unitary, constitutional republic comprising thirty-two departments. It is located in northwestern South America, bordered to the northwest by Panama to the north by the Caribbean Sea to the east by Venezuela and Brazil to the south by Ecuador and
- Colombia Wikipedia
American Tower:
July: July is the seventh month of the year in the Julian and Gregorian Calendars and one of seven months with the length of 31 days. It was named by the Roman Senate in honor of the Roman general, Julius Caesar, it being the month of his birth. Prior to that, it was called Quintilis.
International: International mostly means something involving more than a single country. The term international as a word means involvement of, interaction between or encompassing more than one nation, or generally beyond national boundaries. For example, international law, which is applied by more than one coun
Tower: A tower is a tall structure, usually taller than it is wide, often by a significant margin. Towers are distinguished from masts by their lack of guy-wires.
Newswire: A news agency is an organization of journalists established to supply news reports to news organizations: newspapers, magazines, and radio and television broadcasters. Such an agency may also be referred to as a wire service, newswire, or news service.