Tigo sells tower business for $145 million

Telemovil El Salvador, a subsidiary of Millicom International Cellular, will sell 800 wireless communications towers to SBA Communications, for $145 million in cash.

SBA Communications 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.

Mauricio Ramos, chief executive officer of Millicom, said: “We deliver towards our strategy of growing our mobile data and cable revenue with a focus on Latin America, while enhancing our capital efficiency.”