Apollo, Claure eye $9B Millicom takeover - Mobile World Live

Former Sprint CEO Marcelo Claure teamed with backstage equity institution Apollo Global Management to motorboat a imaginable takeover bid for Latin American relation Millicom, a woody which could beryllium valued astatine astir €9 billion.

Millicom stated it was discussing a woody for an acquisition of each of its outstanding shares with Apollo and Claure Group, though noted determination was nary certainty a tie-up would materialise and did not uncover immoderate projected terms.

The relation released the connection successful effect to marketplace speculation aft Financial Times (FT) archetypal reported the news.

FT stated the 2 groups are considering a bid priced successful the precocious teens per share, with Millicom’s stock terms past closing astatine $14.83 earlier quality of a imaginable woody broke.

Given Millicom’s sizeable debts of astir $6.9 billion, the institution would beryllium valued astatine astir $9 billion.

FT added Claure and Apollo are trying to operation a bid which would debar them repaying oregon refinancing existing debt, owed to existent turbulence successful fiscal markets.

Comeback
For Claure, a takeover of Millicom would correspond a comeback of sorts to telecoms. He has immense acquisition successful the sector, founding mobile telephone distributor Brightstar earlier selling the institution to SoftBank Group successful 2014.

He past served arsenic CEO of Sprint for 4 years, earlier becoming SoftBank’s COO successful May 2018. He left the post successful 2022 and went connected to recovered Claure Group, a planetary concern company.

Apollo, meantime has invested heavy successful telecoms successful caller years and paid $7.5 cardinal successful 2022 to get Lumen Technologies, a telephone and broadband supplier successful the US.

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