Milbank Advised Millicom To Acquire Controlling Stake In Coltel From Telefónica

Milbank Advised Millicom To Acquire Controlling Stake In Coltel From Telefónica

The $400 million transaction would result in a purchase price of $362 million

Milbank LLP is counselling Millicom in its agreement with Telefónica to acquire a 67.5 percent controlling equity stake in Colombian telecom service provider Coltel from Telefónica.

The purchase price of $400 million will be subject to adjustments, resulting in $362 million (as of 30 September 2024).

Meanwhile, Millicom has also offered to buy the remaining 32.5 percent of Coltel owned by La Nación – Ministerio de Hacienda y Crédito Público of the Republic of Colombia and other investors.

The Milbank team was led by Corporate/M&A Partners Francisco Nuñez and Scott Golenbock, Special Counsel John Garces, Associates Steve Ahn, Sarah Griffin, International Attorney Luis Felipe Garcia Rubio, Tax Partner Max Goodman and Associate Michael Rivkin.