Millicom to merge Colombia business with UNE

STOCKHOLM, July 22 Mon Jul 22, 2013 9:16am EDT

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STOCKHOLM, July 22 (Reuters) - Emerging markets telecoms group Millicom said on Monday it had agreed to merge its Colombian operations with Colombian Empresas Publicas de Medellin's (EPM) fixed line operations UNE.

Millicom said in a statement it expected the deal to be accretive to Millicom's free cash flow in 2014.

The deal is subject to negotiation of final terms and conditions and of regulatory and government approvals, it said.

Millicom said in February it was in talks to merge its Colombian operations with those of UNE EPM, which provides cable TV and fixed telephony services across the region around the city of Medellin. (Reporting by Anna Ringstrom)

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