Bustamante Fabara | View firm profile
Quito, Ecuador – June 23, 2025 – BUSTAMANTE FABARA, a leading law firm recognized for its expertise in mergers and acquisitions and complex cross-border transactions, acted as Ecuadorian legal counsel to Millicom (leading provider of fixed and mobile telecommunications services under brand name Tigo) in the acquisition of Telefónica’s operations in Ecuador, a transaction valued at USD 380 million.
The firm’s multidisciplinary team — composed of partner José Rafael Bustamante Crespo, director Kirina González, senior associate Valentina Morillo, and a team of professionals including Gino Ivich, José Antonio Bustamante, Lorena Ortiz, Sebastián Eljuri, Ángeles Mancheno, and Sergio Samaniego — provided comprehensive legal counsel throughout the transaction. Winston and Strawn acted as international counsel for Millicom. BUSTAMANTE FABARA will continue to advise Millicom in the procedures required to obtain regulatory approvals and the closing of the transaction.
This transaction marks a significant milestone in Millicom’s strategic expansion in South America, reinforcing its leadership in the region and diversifying its operations in a stable, dollarized economy. The acquisition enhances Millicom’s regional footprint and supports long-term growth and digital inclusion across Ecuador.
BUSTAMANTE FABARA’s role was instrumental in navigating the regulatory landscape and ensuring a successful execution, highlighting the firm’s ability to deliver innovative legal solutions in high-stakes transactional environments.
About BUSTAMANTE FABARA
BUSTAMANTE FABARA is one of Ecuador’s leading law firms, with a strong track record advising on complex financial transactions, cross-border deals, and international projects. With over 120 lawyers and 190 total team members, the firm continues to lead in shaping Ecuador’s legal landscape.
About Millicom
Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO® and Tigo Business® brands, the company provides a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2025, Millicom, including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.
Press contact:
María José Sotomayor Hidalgo
Director of Marketing and Communications
BUSTAMANTE FABARA
Email: [email protected]
Phone: 0989728788