Feb 6, 2018   SOURCE: PR NewsWire

Millicom's Tigo El Salvador Signs Agreement to Sell and Lease Back Towers to SBA

LUXEMBOURG, Feb. 6, 2018 /PRNewswire/ -- Millicom International Cellular S.A. ("Millicom"), announced today that its subsidiary Telemovil El Salvador S.A. de C.V. ("Tigo El Salvador") has agreed to sell up to approximately 800 wireless communications towers to a subsidiary of SBA Communications Corporation ("SBA") in El Salvador. As a result of the transaction, Tigo El Salvador will receive approximately US$145 million in cash.

Additionally, the two companies have entered into a long-term agreement whereby SBA will provide Tigo El Salvador with wireless communications towers to support the company's wireless networks and rollout plans. The transaction is expected to create savings in both capital and operating expenditures for Tigo El Salvador. The specific number of towers and final purchase price will be determined once the various closings have taken place, which are subject to customary closing conditions.

Mauricio Ramos, Chief Executive Officer of Millicom said: "We continue to deliver towards our strategy of growing our mobile data and cable revenue with a focus on Latin America, while enhancing our capital efficiency. Our agreement with SBA, which has a significant presence throughout the Americas, is in alignment with this strategy and with our aim to work with strong partners that can help us provide superior connectivity to our customers in the region."

This information was brought to you by Cision http://news.cision.com
http://news.cision.com/millicom-international-cellular/r/millicom-s-tigo-el-salvador-signs-agreement-to-sell-and-lease-back-towers-to-sba,c2446627

The following files are available for download:

    http://mb.cision.com/Main/950/2446627/788131.pdf Millicom(TM)'s Tigo El
                                                     Salvador signs agreement to
                                                     sell and lease back towers
                                                     to SBA

CONTACT:

For further information, please contact

Press:
Vivian Kobeh, Corporate Communications Director
+1-305-476-7352 / +1-305-302-2858
press@millicom.com

Investors:
Michel Morin, VP Investor Relations
+352-277-59094
investors@millicom.com

Mauricio Pinzon, Investor Relations Manager
Tel: +44-20-3249-2460
investors@millicom.com

View original content:http://www.prnewswire.com/news-releases/millicoms-tigo-el-salvador-signs-agreement-to-sell-and-lease-back-towers-to-sba-300594577.html

SOURCE Millicom International Cellular