Millicom Signs Agreement to Acquire Entel Peru for $1.71 Billion

Millicom (Tigo) signed an agreement to acquire Entel Peru for US$1.714 billion, including lease liabilities, at 5.0 times estimated 2026 EBITDA before synergies and integration costs. The deal is expected to close in early December 2026, subject to customary conditions, and Millicom expects it to increase equity free cash flow in the first year after completion. The acquisition expands Millicom’s presence in investment-grade markets and supports its strategy of capital-efficient growth through wholesale partnerships and convergent services.