Millicom and Xavier Niel expand their influence in Latin American telecommunications by acquiring the Chilean division of Telefonica

degenonymous · 2026-02-22T12:15:30+00:00

Millicom International Cellular SA has agreed to acquire Telefonica's operations in Chile for $1.22 billion, significantly enhancing its presence in Latin America's telecom sector and solidifying billionaire Xavier Niel's influence in the region.

degenonymous

2026-02-22 12:15:30

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Millicom International Cellular SA and billionaire Xavier Niel have agreed to acquire Telefonica’s operations in Chile for $1.22 billion. This is a significant deal that reshapes Millicom’s footprint on the continent and solidifies Niel’s position as a key player in the regional telecommunications industry. The contract announcement was circulated through the reputable publication Bloomberg.

Transaction Details and Strategic Significance

The deal will allow Millicom to substantially expand its assets in Latin American telecommunications and gain a significant market share in the Chilean telecom sector. Acquiring Telefonica’s operations is a pivotal step in the company’s global strategy. Xavier Niel, who has extensive experience in the telecommunications sector, actively supports the implementation of this project.

Financial Metrics and Expansion Opportunities

The purchase price of $1.22 billion reflects a substantial investment in regional development. Such an investment volume will enable Millicom to modernize infrastructure, expand service offerings, and strengthen its competitive position in the Chilean telecommunications market. The agreement includes the transfer of all operational assets and rights.

Latin America as a Center for Telecom Growth

The telecommunications sector in Latin America is more attractive to international investors due to its potential and development prospects. The acquisition of Telefonica’s Chilean subsidiary demonstrates this trend and cements Chile as a key market for global telecom players. As one of the leading companies in this sector, Millicom gains the opportunity to further strengthen its regional role and expand its network into neighboring markets.

This contract signifies that Millicom and its partners are committed to investing decisively in the development of regional telecommunications infrastructure, creating new opportunities for growth and service expansion in Latin America.

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