STOCKHOLM–(BUSINESS WIRE)–Millicom (NASDAQ:MICC) (STO:MIC), today issued the following statement regarding the status of its proposed merger with Telecable Costa Rica which was announced in December 2014.

Millicom, trading as Tigo in Costa Rica, has confirmed that its petition to merge with TeleCable Económico TVE, S.A has not been sanctioned by regulators Superintendencia de Telecomunicaciones (SUTEL).

Millicom is now reviewing the information provided by SUTEL including its option to appeal.

As previously reported by The Costa Rica Star:

Tigo Star, one of the largest providers of cable television, broadband Internet and virtual telephony services in Costa Rica, has tendered an application before the Superintendence of Telecommunications (Spanish acronym: SUTEL), to acquire the assets and subscribers of Telecable, a residential and business provider that has a significant presence in the provinces of Alajuela, San Jose and Heredia.

If approved, the new company would have an extended geographical coverage and offer consumers a greater range of services and innovative products. It would also add momentum to the recent strategic moves made by the companies such as introducing faster internet, the development of apps for mobile devices for sports and music events and measures to reduce the digital divide.

About Millicom

Millicom is a leading telecommunications and media company dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing innovative and customer-centric digital lifestyle services to the world’s emerging markets. The Millicom Group employs more than 16,000 people and provides mobile, cable and satellite services to over 56 million customers. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2014, Millicom generated revenue of $6.4 billion and EBITDA of $2.1 billion.