Millicom Returns to C.R., Buys Amnet for $510M
Telecom giant Millicom International Cellular announced Tuesday that it would acquire Amnet Telecommunications Holding Limited, a leading Central American provider of broadband Internet and cable television, for $510 million.
Amnet is Costa Rica’s leading cable provider and a major provider of high-speed Internet through a partnership with stateowned Internet provider Radiográfica Costarricense, more commonly known as RACSA.
Millicom, based in Luxembourg, already has a strong presence in the region. Operating under the Tigo brand, the company is the leading cell phone operator in El Salvador, Guatemala and Honduras.
Millicom will be able to expand its services in Costa Rica beyond those offered by Amnet once the state-owned Costa Rican Electricity Institute’s telecom monopoly is opened to competition. Under the Central American Free-Trade Agreement with the United States, Costa Rica has agreed to open to private competition cell phone, broadband Internet and private data services.
This will be Millicom’s second venture into Costa Rica. The company was forced to leave the country in 1995 after the Constitutional Chamber of the Supreme Court (Sala IV) in 1993 declared the company’s cell phone service concession illegal (TT, April 8, 1994).
You may be interested
Costa Rica’s rising coronavirus numbers aren’t simply due to more testingAlejandro Zúñiga - July 7, 2020
Costa Rica has averaged 251 new coronavirus cases daily over the last 10 days, by far its largest increase during…
Costa Rica coronavirus data for July 7, 2020Alejandro Zúñiga - July 7, 2020
Costa Rica confirmed 245 new cases of the coronavirus over the past day, totaling 5,486 cumulative known cases, the Health…
United Airlines increases Costa Rica repatriation flights, including from Liberia International AirportThe Tico Times - July 7, 2020
The United States Embassy has coordinated with United Airlines and Spirit Airlines to offer repatriation flights from Costa Rica throughout…