Millicom International Cellular S.A. (TIGO) is trading higher after confirming it acquired the Colombian government’s remaining 32.5% equity stake in Colombia Telecomunicaciones S.A. E.S.P. (Coltel), completing full consolidation of the operator. The company positioned the transaction as a scale-driven step that increases investment capacity and operational efficiency, with the stated aim of accelerating 5G and fiber deployment and improving service quality in a core market.

Full ownership removes a significant minority stake and can simplify governance, capital allocation, and integration execution—key factors for telecom operators facing heavy network investment requirements. The move also reinforces Millicom’s strategy to be a larger, financially viable competitor in Colombia as the connectivity landscape evolves and price-and-investment pressure remains high.

The Coltel consolidation follows Millicom’s February 5, 2026 announcement that it had concluded the tender offer to acquire Telefónica’s controlling 67.5% stake, with Millicom at that time signaling a second phase to acquire remaining shares around April. Investors now shift focus to the next scheduled corporate catalyst: Millicom’s Q1 2026 results update and video conference set for May 12, 2026.