News

Tigo was saved: EPM board of directors approves putting money for capitalization after agreement with Millicom


After a meeting that ended at midnight on Wednesday, Millicom and EPM announced a plan to capitalize Tigo - credit Luisa Gonzalez/REUTERS
After a meeting that ended at midnight on Wednesday, Millicom and EPM announced a plan to capitalize Tigo – credit Luisa Gonzalez/REUTERS

Tigo’s future would be assured after the EPM Board of Directors announced around midnight on Wednesday, October 4, a plan to capitalize the telecommunications company after reaching an agreement with Millicom.

Through a statement, the Antioquia company explained that it was agreed to bring a joint capitalization in equal parts of up to 300,000 million pesos to Tigo, which this month will have to face a series of financial obligations that had the company in trouble.

EPM also explained that the capitalization will be carried out with the market value of the share. The return of the resources provided will come through a repurchase of shares or through a mandatory purchase of the securities by Millicom at a value that both parties have agreed upon.



Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button