{"id":53096,"date":"2025-11-07T12:55:06","date_gmt":"2025-11-07T12:55:06","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&#038;p=53096"},"modified":"2025-11-07T12:55:06","modified_gmt":"2025-11-07T12:55:06","slug":"bustamante-fabara-advises-millicom-on-the-successful-closing-on-one-of-ecuadors-largest-telecom-ma-deals-of-the-year","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/bustamante-fabara-advises-millicom-on-the-successful-closing-on-one-of-ecuadors-largest-telecom-ma-deals-of-the-year\/","title":{"rendered":"BUSTAMANTE FABARA advises Millicom on the successful closing on one of Ecuador\u2019s largest telecom M&amp;A deals of the year"},"content":{"rendered":"<p><strong>Quito, Ecuador \u2013 November 6, 2025 \u2013 BUSTAMANTE FABARA proudly announces that it has acted as Ecuadorian legal counsel to Millicom International Cellular S.A. (\u201cMillicom\u201d, brand \u201cTigo\u201d) in the USD 380 million acquisition of Telef\u00f3nica S.A.\u2019s Ecuadorian operations (brand \u201cMovistar\u201d) \u2014 a landmark transaction that officially closed on October 30th.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>This deal represents a transformative moment for Ecuador\u2019s telecommunications sector, reinforcing Millicom\u2019s regional leadership and digital expansion strategy. With approximately 5 million customers and a 28% market share, Movistar Ecuador constitutes a strategic asset in a dollarized economy with strong growth fundamentals.<\/p>\n<p>The firm\u2019s multidisciplinary team \u2014 led by Partner Jos\u00e9 Rafael Bustamante C., Director Kirina Gonz\u00e1lez, and Senior Associate Valentina Morillo \u2014 provided comprehensive legal counsel throughout all stages of the transaction, from negotiation and due diligence to regulatory approvals and closing. Looking ahead, BUSTAMANTE FABARA will continue to advise Millicom on post-closing integration and regulatory matters.<\/p>\n<p>This strategic acquisition aligns with broader trends across Latin America, where Telef\u00f3nica continues to optimize its portfolio by reducing its regional exposure, while Millicom expands its investment in key markets with stable growth prospects.<\/p>\n<p><strong>About BUSTAMANTE FABARA<\/strong><\/p>\n<p>BUSTAMANTE FABARA is one of Ecuador\u2019s 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\u2019s legal landscape.<\/p>\n<p><strong>About Millicom<\/strong><\/p>\n<p>Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO\u00ae and Tigo Business\u00ae 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.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Press contact:<\/strong><br \/>\nMar\u00eda Jos\u00e9 Sotomayor Hidalgo<br \/>\nDirector of Marketing and Communications<br \/>\nBUSTAMANTE FABARA<br \/>\nEmail: <a href=\"mailto:msotomayor@bustamantefabara.com\">msotomayor@bustamantefabara.com<\/a><\/p>\n<p>Phone: 0989728788<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-53096","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/53096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=53096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}