Liberty Latin announced yesterday that it has terminated conversations with Millicom International Cellular (Tigo) regarding a potential transaction. According to Liberty, “the Company remains focused on its growth strategy to deliver value for shareholders and provide market leading products and services to its customers”.
Both companies had been negotiating for weeks, but no official agreement had been signed.
Millicom claimed to have received a “non-binding, highly conditional preliminary proposal” for all its shares in Liberty Latin America. “There are no certainties to materialize a transaction, neither in terms of the terms, time or way,” it had stated days ago officially.