Millicom continues investment drive with big plans for Colombia

Details: Vaughan O'Grady; Category: Investment; 16 October 2026; 729 views

Millicom, the digital telecommunications and media company operating primarily under the Tigo brand in Latin America, has announced an investment of approximately US$2.665 billion in Colombia over the next four years.

This follows its acquisition of Movistar Colombia, which we reported in February. The investment in Colombia, which will be added to the US$1.411 billion invested in acquisitions in the country, will be used to strengthen the capacity of the mobile network, expand coverage and increase the capacity of the fibre optic network.

According to the BNamericas website, the company has plans to cover 80% of the main cities with 5G and invest in more than 1,200 sites to cover approximately two million Colombians who do not have mobile service or may not have access to a second provider.

In Ecuador, where it has bought Telefonica Ecuador, Tigo plans to invest around US$460 million over the next three to four years, again on upgrades, including modernisation and expansion of the network, digital infrastructure, and improving the customer experience.

Investments of some US$440 million are also planned in the operations of the former Telefónica Uruguay and in the company’s existing operations in Honduras, where US$1 billion will be spent over the next five years.

According to BNamericas, the projected investments in Colombia added to those announced in Ecuador and Uruguay, bring planned investment to a total of US$3.725 billion over the next three to four years. The company has not yet announced investment figures for its operation in Chile.