Millicom Announces $2.665 Billion Investment in Colombia
The plan aims to bring 5G coverage to 80 percent of main cities and extend mobile access to two million users.
Updated on Oct. 16, 2026 in Telecommunications
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Millicom announced a $2.665 billion investment plan for its Colombian operations following its February 2026 acquisition of Movistar Colombia. This capital injection aims to expand mobile and fiber optic network infrastructure over the next four years.
Why it matters
The investment accelerates the deployment of 5G connectivity and expands mobile access to two million Colombians currently lacking service. It marks a significant scaling of regional infrastructure efforts as the company integrates its recent acquisitions.
The plan includes the deployment of 1,200 new sites to achieve 80 percent 5G coverage across main cities. This expenditure is part of a broader $3.725 billion regional investment program across Colombia, Ecuador, Uruguay, and Honduras.
The players
Millicom
A telecommunications company operating under the Tigo brand that provides mobile and fiber services across Latin America.
Movistar Colombia
A Colombian telecommunications operator acquired by Millicom in February 2026 to consolidate regional network assets.
The details
Funds will be directed toward expanding both mobile network capacity and fiber optic broadband connectivity. Tigo, the brand under which Millicom operates in Latin America, will leverage these assets to extend service coverage to underserved populations. The strategy integrates the recently acquired Movistar Colombia infrastructure into its existing regional network stack.
Timeline
February 2026: Millicom acquired Movistar Colombia.
Next 4 years: Millicom executes the $2.665 billion investment in Colombia.
Next 3 to 4 years: Millicom executes the $460 million investment in Ecuador.
Next 5 years: Millicom executes the $1 billion investment in Honduras.
The Tech Race
Millicom is scaling its infrastructure footprint to secure market leadership in the Latin American telecommunications sector. This plan follows a broader regional consolidation trend, positioning the company to compete against other providers through integrated fiber and 5G upgrades.
Two million Colombians currently without mobile access are slated to gain service as the network expands. Residents in main cities can expect improved connectivity as the carrier works to meet its target of 80 percent 5G coverage.
The takeaway
The move positions Millicom to capture a larger share of the Latin American mobile market through aggressive capital expenditure. Investors and industry analysts should monitor future quarterly progress reports for deployment milestones regarding the 1,200 planned new sites.
Further reading
For broader trends in infrastructure development, visit Telecommunications.
Source note: This article includes information reported by Developing Telecoms.
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