Millicom eyeing Entel’s operations in Peru

Details: James Barton; Category: Operators; 13 November 2026; 455 views

Entel has reportedly received a non-binding offer from Millicom to acquire all shares in its Peruvian operations, Entel Peru and Americatel Peru.

Chilean newspaper Diario Financiero reported that the offer was disclosed via a material event notice to the Chilean Financial Market Commission (CMF) on Thursday 12^th November 2026. In a statement, Entel’s general manager Antonio Büchi confirmed that the proposal was originally submitted on 29^th June this year.

Büchi noted that discussions between the firms had reached an advanced stage, although he underlined that any deal would be subject to “necessary corporate authorisations from the parties” and agreed final terms and conditions.

Millicom has been expanding aggressively in Latin America in recent years – frequently by acquiring many of the assets sold off by Telefonica, amidst the Spanish group’s broader exit from the region.

While Millicom does not currently have any presence in Peru, in a results call earlier this year CFO Bart Vanhaeren identified the country as a potential market for expansion, along with Venezuela – although he acknowledged that the latter market presented significant challenges.