With an investment of $2.92 billion in Telefónica's assets, Millicom will expand its footprint to Chile, Colombia, Ecuador, and Uruguay. The transaction will increase its total number of lines to 75 million, a jump of 30 million that will rapidly boost its regional scale. The impact is particularly visible in Colombia, which will represent about 38% of the new Millicom's total. Colombia, where it already had a presence, will become its most important market, displacing Guatemala, which for years was its main operation. In competitive terms, the Group will position itself as the second-largest mobile player in Colombia, Ecuador, and Uruguay, and the third-largest in Chile, with market shares ranging from 23% to 29% depending on the country. The distribution of the acquired markets also reveals an interesting balance: while Colombia will account for 60% of new subscribers, Ecuador will contribute around 17%, just below Chile. Together, the four markets will represent more than 54% of the new Millicom's mobile base, which could add some cultural tension to the transition. Despite the significant leap in scale, Millicom will maintain a significant gap behind América Móvil, whose mobile base is 3.7 times larger. After integrating Telefónica’s assets, Millicom will consolidate its position as the third largest mobile operator in Latin America, behind América Móvil and very close to Telefónica Brasil.
