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After the capitalization and the change of business model, Tigo seeks to continue strengthening its operations in the country. Its commitment remains focused on connecting Colombians and strengthening other verticals. Carlos Blanco, new president of Tigohe also highlighted some strategies that should be analyzed to “reduce the burden on Colombian mobile operators.”
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What did you think of the company upon arrival?
It is a dynamic company and I am impressed by its talent. Despite the difficult times in 2023, progress continues, an example of which is the improvement in risk ratings from both Fitch and S&P, as well as bond placements. There is no doubt that we are a resilient and self-sufficient company from a financial perspective.
The company has undergone a very important restructuring and today demonstrates its desire to grow. We have the support of our shareholders EPM and Millicom, which translates into financing to continue moving forward. Tigo Columbia is known as a growth engine. I am delighted to have the opportunity to advance this strategy.
What is the basis for the company’s new strategy?
The key point was the capitalization of the company, which made Tigo completely viable from a financial point of view and allowed us to overcome this huge obstacle. Another foundation was the restructuring of the company, which included a new operating model to become a more agile company. The third point, which was supported by shareholders, was the establishment of a shared network with Telefónica, which reduced the costs of operating and maintaining the network.
It is worth noting that the company’s financial variables have changed and shareholders do not need to inject additional capital. These are two good news.
What will happen to the company’s major shareholders?
The information I have is the same as that known to the media, namely that the mayor of Medellín, Federico Gutiérrez, announced the sale of their shares in the company. This will be a very long and regulated process, as it should be. We, as employees of a hybrid company, are waiting. At the moment, we do not have an opinion on this issue, as there is no certainty. We also do not comment on the takeover offer by Millicom.
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Carlos Blanco, President of Tigo Colombia.
Milton Diaz.
Have you had any contact with the mayor of Medellín?
So far I have not met with Mayor Gutierrez, we are requesting an appointment and we hope to coordinate the space in the next few days. On the other hand, I met with the EPM President and the board members and we have established a very good relationship.
What do you think of the industry and the business initiatives that have taken place?
What is happening in Colombia is not just happening in this country, but in many regions. This is a capital-intensive industry, and companies have to find new alternatives to stay afloat. We have worked with regulators, governments, and players in this ecosystem to find new alternatives. We believe that large content providers should invest a little bit in terms of their “fair share”, because ultimately their content will pass through our network. This can reduce the burden on operators, allow more investment, and bring more connectivity to remote areas.
Do you think action should be taken to support businesses?
We are already taking action, as was seen in the last 5G spectrum auction where prices fell significantly, but there is no doubt that more support is needed in other areas.
As an industry, we are advocating for a “fair share” and we believe that streaming content providers should also contribute to shouldering the burden of the capital investments that telecom companies must make every year, all to satisfy users’ thirst for data. This discussion is currently taking place in Colombia and we support it.
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Tigo One
Photo: iStock
How will new technologies support the telecommunications industry?
The industry must continue to move toward digitalization. This will allow us to become more efficient, and artificial intelligence will open up new paths that we must take advantage of.
How are you progressing in other areas of your business?
Our business has been diversifying and today we are expanding our product range. While we have fixed and mobile internet services, we also provide smart communications, such as connecting entire bank branches; we also have cloud and data center verticals, and finally we have everything related to cybersecurity.
How are you progressing with 5G? What challenges are you facing?
The deployment is going well in the country. Again, we are complying with the deployment obligations we received in the last auction. There are still many obstacles, one of which is the popularity of 5G phones, as their prices are still very high. On the other hand, we see that this technology is very promising for companies, as there are many use cases that can be exploited.
What’s the message for Colombian users?
We want users to feel calm that the company’s plan is to continue to grow and invest. We are very optimistic, we have opened nearly 100 sales points across the country this year and increased the speed of our fixed Internet, so we keep moving forward.
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