Millicom To Incur $135M To Update Ericsson's Mobile Networks Partnership In Honduras, Paraguay, Bolivia

• Millicom International Cellular SA (NASDAQ: TIGO) will be investing 5 million over the next two to three years to upgrade its mobile network in partnership with Telefonaktiebolaget L M Ericsson (NASDAQ: ERIC) in three critical Latin American markets, Honduras, Paraguay, and Bolivia.

• The collaboration will enable Millicom to achieve the additional capacity to manage the pandemic-driven traffic surge by modernizing its networks with LTE, 5G-ready technology.

• Millicom will modernize its network using the latest Ericsson Radio System products and solutions, paving the way for 5G deployment across the continent.

• Ericsson will also replace TIGO's current 4G packet core and introduce Ericsson's dual-mode 5G Core as part of the project.

• Millicom held $780 million in cash and equivalents as of Mar. 31, 2021.

• Price action: ERIC shares traded lower by 0.69% at $12.95, and TIGO shares traded higher by 1.30% at $39.83 on the last check Thursday.

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