The potential acquisition of Movistar by Millicom (owner of Tigo-UNE) is being viewed as a major strategic shift in Colombia’s mobile telecommunications sector. According to the Ministry of Information and Communication Technologies (MinTIC), the transaction involves Telefónica’s 67.5% stake in Movistar, the State’s 32%, and 50% of Tigo-UNE (owned by EPM), with an estimated value of US$400 million.