Colombian mobile telephony operator Colombia Móvil won its nationwide PCS license in January 2003. The operator began as a joint venture (50:50) between Bogota-based fixed line operator ETB and Medellin-based public services and telecoms group EPM. In September 2006, Millicom International Cellular acquired a 50% plus one share controlling stake in the company. Colombia Móvil operates in the local market under the Tigo brand. In october 2013, multinational telco Millicom and Colombian state-run multi-utility EPM have signed a final agreement to combine their respective businesses in Colombia. In July, the two companies concluded negotiations on the structure of the merged company, which values Millicom's Tigo Colombia at US$1.3bn and EPM's UNE at around US$2.1bn. EPM will hold the majority stake in the firm, with 50% plus one share, while Millicom will hold the remainder. The transaction is expected to be completed by the end of 1H14. The integrated company is expected to offer a comprehensive range of bundled digital services including mobile and fixed telephone and broadband services, and pay TV.
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