Millicom agreed to buy Entel Perú and Americatel Perú for US$ 1,714 million.
Financing the Deal Terms
Millicom will finance the buy through local financing and available cash. The payment is split into three parts: 65% at closing, 10% after twelve months, and the remaining 25% at eighteen months.
The transaction represents a multiple of 5 times the estimated Ebitda for 2026 before sinergies and integration costs, as Gestión reported.
Entel Perú Revenue and Profits Grew in 2026
Entel Perú generated US$ 923.8 million in revenue between January and September of 2026, marking a 7% increase compared to the same period in the prior year, according to The Clinic.
During that same nine-month span, the Ebitda grew 12.6% to reach US$ 246.7 million. Its margin increased from 25.4% to 26.7%.
Entel Perú and Americatel Perú registered combined profits of $15,712 million in the first nine months of 2026, representing a 45% year-on-year increase.
Shareholders Must Approve the Transaction by December 2026
The deal requires approval from Entel’s extraordinary shareholders meeting.
Las negociaciones están avanzadas, said the filing submitted by the company. The transaction is scheduled to be finalized in early December 2026, subject to the fulfillment of specific closing conditions and corporate authorizations.
Expanding Market Footprint
The acquisition expands Millicom’s footprint to 13 markets, following earlier regional moves that included buying Telefónica’s operations in Uruguay for US$ 440 million and in Ecuador for US$ 380 million, as RPP noted.
Millicom said the size of the Peruvian market—with more than 34 million inhabitants—presents opportunities for mobile connectivity, residential internet, and business solutions.
Entel Perú brings a solid network, loyal customers, and a talented team. Together, we see a great opportunity to invest in connectivity, offer better services and greater value to Peruvian consumers and businesses, and contribute to the country’s digital development
Marcelo Benítez, CEO of Millicom
Entel entered the Peruvian market in 2013 after buying Nextel, growing into the country’s second-largest mobile operator with 10.49 million lines as of September. That surpassed its 10.28 million lines in Chile.
Earlier coverage: Millicom Submits Non-Binding Offer to Buy Entel's Operations in Perú
