Davis Polk advised Millicom International Cellular S.A. (Millicom) in connection with the $4.4 billion combination of its Colombian telecommunications business, conducted through its subsidiary Colombia Móvil S.A. (Colombia Móvil), with UNE EPM Telecomunicaciones S.A. (UNE), a subsidiary of Empresas Públicas de Medellín E.S.P. (EPM). The transaction was completed on August 14, 2014.

Davis Polk also advised Millicom in connection with UNE’s $240 million acquisition of the 25% of Colombia Móvil owned by Empresa de Telecomunicaciones de Bogotá S.A. E.S.P. and Compañía Colombiana de Servicios de Valor Agregado y Telemáticos S.A. E.S.P. The transaction was completed on August 13, 2014.

Millicom is a leading international telecommunications and media company dedicated to emerging markets in Latin America and Africa, providing mobile communications and data services, cable television, broadband and other related products. Colombia Móvil is a mobile phone company in Colombia with over six million customers.  EPM is the largest Colombian public services company and operates in the electricity, natural gas, water, waste management, information technology and telecommunications industries. UNE is one of the leading providers of fixed broadband, telephony and pay-TV services in Colombia. The combined business of Colombia Móvil and UNE is expected to offer a comprehensive range of bundled digital services to millions of households in Colombia, including mobile and fixed telephony, mobile and fixed broadband and pay-TV.

The Davis Polk corporate team included partner William H. Aaronson and associate Francisco R. Nuñez. Partner Neil Barr provided tax advice. Counsel Stephen M. Pepper provided antitrust and competition advice. All members of the Davis Polk team are based in the New York office.

Brigard & Urrutia Abogados S.A.S. and Uría Menéndez Abogados advised Millicom on Colombian and Spanish law matters, respectively.