Millicom refutes Telefónica’s claim over Costa Rica purchase agreement
Millicom International Cellular S.A. (TIGO)
Last millicom international cellular s.a. earnings: 5/1 04:01 pm
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Source: GlobeNewswire
Millicom refutes Telefónica’s claim over Costa Rica purchase agreement Luxembourg, April 29, 2020 – Millicom International Cellular S.A. refutes Telefonica’s recent public communications alleging that the conditions to closing the Share Purchase Agreement (SPA) for the acquisition of Telefónica’s operating subsidiary in Costa Rica have been met. Millicom further notes that, in the event that the pending regulatory approvals for the transaction are not issued by May 1, 2020, it intends to terminate the SPA in accordance with the terms of the agreement. As communicated in the press release dated February 20, 2019, Millicom entered into the SPA on that date to acquire Telefonica’s Costa Rica mobile business subject to customary closing conditions, which included the issuance of required regulatory approvals, certain of which have not yet been issued. The SPA establishes an end date of May 1, 2020, after which either party may terminate the agreement. Millicom will vigorously
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