Global Economic Times

ATIS Group Expands Paraguayan Telecommunications Infrastructure… Acquires Approximately 300 Telecommunications Towers from Millicom: Global Economic Times Reporter / Updated : 2025-05-09 12:03:40

BUENOS AIRES, Argentina – ATIS Group (“ATIS”), a leading digital infrastructure provider in Latin America, today announced that on April 26, 2025, it entered into a definitive agreement with Millicom (NASDAQ: TIGO) to acquire Lati Paraguay, a subsidiary that owns approximately 300 wireless telecommunications towers in Paraguay.

This transaction marks another significant milestone in ATIS’s strategic expansion into the Southern Cone of South America and is expected to further strengthen its position as the premier independent telecommunications tower company in the region.

As part of the agreement, ATIS and Tigo Paraguay (Millicom's Paraguayan subsidiary) have also entered into a long-term lease agreement. Under this agreement, ATIS will lease the telecommunications tower infrastructure to Tigo Paraguay, enabling it to continue supporting its mobile network operations. The final number of towers subject to the lease is expected to be determined at the closing of the transaction, which is anticipated to occur shortly.

Juan Pablo Blanco, CEO of ATIS Group, stated, "ATIS aims to develop, own, and operate best-in-class critical assets such as wireless telecommunications towers. This acquisition, along with previous acquisitions from Telefónica Uruguay and SBA Communications in Argentina, underscores ATIS’s commitment to the Southern Cone of Latin America. This important agreement with Tigo aligns with our strategy of long-term partnerships with leading wireless telecommunications operators in the region."

Since the majority stake acquisition by Towerco Investments LLC in 2022, ATIS has grown from a company managing 185 sites in Argentina to one operating over 1,000 sites across Argentina, Uruguay, and now Paraguay. The acquisition of Lati Paraguay is a significant event that marks the next chapter in ATIS’s mission to provide future-proof infrastructure that meets the accelerating connectivity needs of the region.

Advisors: Aldo J. Polak acted as financial advisor to ATIS, and Daniel Hartstein of Szenberg & Okun PLLC and Estudio Gross Brown served as legal counsel to ATIS. Millicom was advised by Winston & Strawn LLP and BKM | Berkemeyer.

About ATIS Group: Founded in Argentina in 2016, ATIS Group is a leading independent telecommunications tower company in the Southern Cone of Latin America. With a growing portfolio of digital infrastructure assets and long-term partnerships with key mobile operators, ATIS plays a central role in advancing connectivity and enabling digital transformation in the region.

About Millicom: Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO® and Tigo Business® brands, Millicom provides a wide range of digital services and products, including TIGO Money mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. 1 As of March 31, 2025, Millicom, including its Honduras joint venture, employed approximately 14,000 people and provided mobile and fiber services through its digital highways to over 46 million customers, with a fiber footprint passing over 14 million homes. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg, and its main management offices are in Doral, Florida.

Additional Information and Analysis: ATIS Group's acquisition of Lati Paraguay is seen as part of an aggressive strategy to strengthen its position in the South American market, particularly in the telecommunications infrastructure sector. ATIS already operates a significant number of telecommunications towers in Argentina and Uruguay, and this acquisition in Paraguay will allow it to further expand its influence in the Southern Cone of South America.

Growth Potential of the South American Telecommunications Infrastructure Market: Latin America is a market where demand for telecommunications infrastructure is continuously increasing due to the rising penetration of mobile internet and the growing trend of data usage. In particular, the expansion of 4G LTE networks and the full-scale preparation for the introduction of 5G are further increasing the need for high-quality and reliable telecommunications infrastructure. This market situation provides growth opportunities for independent telecommunications tower companies like ATIS.

ATIS’s Strategic Moves: Beyond simply acquiring telecommunications towers, ATIS is pursuing a strategy of securing stable revenue streams and enhancing business sustainability through long-term lease agreements with major telecommunications operators. The lease agreement with Tigo Paraguay is also part of this strategy, and ATIS is expected to generate stable lease revenue while supporting Tigo Paraguay's network operations even after the acquisition.

Millicom’s Strategic Shift: On the other hand, Millicom's sale of its telecommunications towers can be interpreted as a strategic decision to focus on its core business of telecommunications services and improve its financial structure. The method of selling and leasing back telecommunications towers is a common strategy that helps telecommunications operators reduce initial investment costs and secure flexibility. Millicom is also expected to invest the funds secured through this strategy in network upgrades and the development of new services.

Competitive Landscape of the South American Telecommunications Tower Market: The telecommunications tower market in Latin America is a market where various global and regional players compete in addition to ATIS. Representative global telecommunications tower companies include American Tower and Cellnex Telecom, and they are also actively pursuing acquisitions and business expansion in the South American market. ATIS is striving to secure a competitive advantage in this competitive environment through a strategy specialized for the Southern Cone of South America and close cooperation with local telecommunications operators.

ATIS’s Future Prospects: Through this acquisition in Paraguay, ATIS has established itself as a major independent telecommunications tower company in the Southern Cone of South America, connecting Argentina, Uruguay, and Paraguay. In the future, ATIS is expected to further expand its business scale through additional acquisitions and investments in line with the continuous increase in demand for telecommunications infrastructure in the region. In addition, it is projected to actively promote investments in future telecommunications technology development, such as the construction of 5G networks, to strengthen its competitiveness.

ATIS Group's acquisition of Lati Paraguay is a strategic move to capitalize on the growth potential of the South American telecommunications infrastructure market and build long-term partnerships with key telecommunications operators. Through this acquisition, ATIS is expected to further solidify its position in the Southern Cone of South America and expand its role as a key infrastructure provider for the future telecommunications era. At the same time, Millicom's sale of its telecommunications towers is a strategic choice to focus on its core business and secure financial soundness, which is expected to have a significant impact on the competitive landscape of the South American telecommunications market and the strategic changes of operators in the future.