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Colombia's Tigo-UNE Q2 sales dip on forex, mobile weakness

Thursday 21 July 2016 | 10:48 CET | News
Colombian operator Tigo-UNE, owned by Luxembourg-based Millicom, posted an 18.6 percent fall in second-quarter revenues to USD 434 million, hit hard by local currency weakness. The decline was also due to weakness in the mobile market, lower international wholesale traffic and a 35 percent drop in handset sales. Stripping out the effect of a 15 percent year-on-year decline in the Colombian peso compared to the US dollar, sales in the quarter were down 3.6 percent on an organic basis compared to a year earlier, reversing growth of 2.3 percent in the previous quarter.

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Categories: Fixed / Mobile & Wireless
Companies: Millicom / Tigo / Tigo-UNE
Countries: Colombia
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