Jones Day acted for Millicom and its subsidiary in Paraguay in the sale of 1,400 wireless communications towers to American Tower Corporation.
Millicom International Cellular is an global telecommunications and media company headquartered in Luxembourg and listed on NASDAQ Nordic in Stockholm. The company has operations in fourteen markets in Africa and Latin America under the Tigo brand. Its Paraguay subsidiary, Telefonica Celular del Paraguay (trading as Tigo Paraguay) will receive approximately $125 million for the transaction.
The buyers, American Tower Corporation is a leading independent owner, operator and developer of wireless and broadcast communications real estate. The company is headquartered in Boston, Massachusetts and is listed in NYSE.
Partners Nicholas E. Rodríguez and Stephen W. Angus led the Jones Day team advising Millicom. It included lawyers in Miami, São Paulo, Paris and New York.