Millicom agrees to buy Entel Peru for US$1.71 billion
TIGO•Millicom agreed to acquire Entel Peru for US$1.71 billion, including lease liabilities, at 5.0 times estimated 2026 EBITDA before synergies. The deal is expected to close in early December 2026, subject to closing conditions.
1. Deal terms
Millicom agreed to acquire Entel Peru for US$1.71 billion, including lease liabilities. The price values the business at 5.0 times estimated 2026 EBITDA before synergies. Payments comprise 65% at closing, 10% after 12 months and 25% after 18 months, funded through local financing and cash.
2. Expected financial impact
The acquisition is expected to boost equity free cash flow in the first year after completion. Millicom expects year-end 2026 leverage to remain around 2.5 times, including the acquisition, with no adverse impact on planned shareholder distributions. Closing is expected in early December 2026, subject to closing conditions; the deal would expand the group's footprint to 13 markets.
