KEY POINTS
- Millicom is investing US$600 million over the next four years to expand Uruguay’s digital infrastructure and 5G network.
- The company’s total commitment in Uruguay has reached US$1.04 billion following the US$440 million acquisition of Movistar.
- President Yamandú Orsi and Millicom leadership highlighted Uruguay’s political stability and advanced digital ecosystem as primary drivers for the investment.
Millicom officially launched its Tigo brand in Uruguay on April 16, 2026, alongside the announcement of a US$600 million investment initiative focused on expanding the nation’s digital infrastructure. This capital injection follows the company’s acquisition of Movistar in October 2025 and brings Millicom’s total financial commitment in the Uruguayan market to US$1.04 billion.
According to a report by BNamericas, the investment plan will be executed over the next four years. Approximately US$100 million of this total is specifically allocated to strengthening digital infrastructure, a move intended to enhance the user experience and modernize the existing telecommunications framework.
Marcelo Benítez, CEO of Millicom, stated in a press release that the decision was driven by Uruguay’s unique regional conditions, including an advanced digital ecosystem and political stability. President Yamandú Orsi welcomed the announcement, noting that such signals reinforce Uruguay’s reputation as a country governed by consistent, "common-sense" policies that attract long-term foreign capital.
The acquisition of Telefónica’s operations in Uruguay was completed last year for US$440 million. Since then, the company has focused on modernizing roughly two-thirds of its infrastructure. The new phase of investment will prioritize the rollout of 4G and 5G capabilities, with a particular emphasis on increasing connectivity in rural areas and the country’s interior to improve commercial capillarity.
Millicom currently holds 29% of the local mobile market, serving approximately 1.6 million customers and operating two data centers. The expansion in Uruguay is part of a broader regional strategy that includes recent acquisitions and consolidations in Ecuador, Chile, and Colombia. Uruguay serves as the first operation to launch the Tigo brand following these recent regional acquisitions.
Strategic Infrastructure Development
Millicom’s billion-dollar commitment underscores Uruguay’s position as a premier regional hub for technology and digital services. For international investors and high-net-worth individuals, the rapid expansion of 5G and improved rural connectivity significantly enhances the country’s appeal as a destination for remote work and tech-oriented business operations. The continued modernization of digital infrastructure, supported by bipartisan political stability, provides a secure foundation for capital appreciation in the telecommunications sector and indirectly supports the luxury real estate market in areas where connectivity is a primary driver of value. This investment further solidifies Uruguay’s standing as a "safe haven" for regional capital, offering a sophisticated digital ecosystem that rivals larger neighbors while maintaining superior legal security.
