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TIGO - Colombia Movil
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 29138
Colombia (IDA)
Sector1Mobile Telephony
Environmental categoryB
Date SPI disclosedMay 7, 2010
Projected board dateJune 15, 2010
Previous EventsInvested: May 24, 2011
Signed: June 25, 2010
Approved: June 18, 2010
View Environmental & Social Review Summary (ESRS), click here
click here
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
The project consists of the upgrade and expansion of a Colombian GSM mobile network (the “Project”) of Colombia Movil S.A. E.S.P. (“TIGO” or the “Company”). Owned by EPM Telecomunicaciones S.A. E.S.P. (“UNE S.A. ESP”), Empresa de Telecomunicaciones de Bogota S.A. E.S.P. (“ETB S.A. ESP”), and Millicom International Cellular S.A. (“MIC” or the “Sponsor”), the Company first began operations in 2003 with a GSM license, which is valid for a period of 10 years renewable for another 10 years. As of 2009, TIGO has managed to increase its market participation to approx. 9% with over 3.8 million subscribers.