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General

Tigo-UNE service revenues down 2.9% to USD 402 mln in Q3

Tuesday 25 October 2016 | 12:04 CET | News
Colombian operator Tigo-UNE, owned by Luxembourg-based Millicom, reported third-quarter service revenues down 2.9 percent year-on-year on an organic basis to USD 402 million, affected by challenging economic conditions and intense competition in the mobile sector above all. The operator said continuing growth in mobile data and cable revenue failed to offset a steep decline in voice and SMS revenue. Total revenues declined by 6.6 percent organically due in part to lower handset sales resulting from currency-driven handset price inflation. EBITDA fell by 14.4 percent in the quarter to USD 122

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Categories: General
Companies: Millicom / Tigo
Countries: Colombia
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