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Apollo mulls bid for LatAm telecoms company

Apollo Global Management is weighing up a bid for Millicom International Cellular and has entered into negotiations with the Latin American telecoms company about a takeover that could value the business at around $10 billion, including debt, according to a report by the Financial Times.

Apollo Global Management is weighing up a bid for Millicom International Cellular and has entered into negotiations with the Latin American telecoms company about a takeover that could value the business at around $10 billion, including debt, according to a report by the Financial Times.

The report cites unnamed sources as confirming that former SoftBank executive Marcelo Claure is working with Apollo on the potential deal with an expected offer price per share in ‘the high teens’.

In a statement released on Wednesday, Luxembourg-based Millicom confirmed the talks, but also said that there is no certainty yet that a transaction will happen.

The company’s Nasdaq-listed shares jumped 23 per cent on Wednesday when news of the potential deal first broke.
 

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