Colombia's Superintendence of Industry and Commerce (SIC) approved the integration between Tigo-UNE and Movistar, reshaping the telecom market with a new player holding nearly 38% share. Millicom and Telefónica hailed the decision as progress toward efficiency and innovation, while the CRC warns of potential regulatory changes and price hike risks. WOM, the third operator, is reviewing its presence amid duopoly concerns.
On November 14, 2025, Colombia's Superintendence of Industry and Commerce (SIC) authorized the integration between Tigo-UNE, operated by Millicom, and Movistar, owned by Telefónica, in a deal valued at US$400 million for the sale of Telefónica Coltel's majority stake. This merger forms an operator with about 38% of the telecom market, combining with Claro's 52% to control 90%, leaving WOM with 10% and over six million users.
Millicom welcomed the step positively, stating it represents "an advance toward closing the transaction" and reaffirmed its commitment to the country's digital development, aiming to "boost connectivity, innovation, competition, and economic growth for all Colombians." Telefónica described the decision as "an opportunity to build a balanced and sustainable telecommunications sector."
The Communications Regulation Commission (CRC) clarified that SIC-imposed conditions will hold until it issues related regulations, warning of concentration risks in the wholesale mobile market, potential user price increases, and reduced competitive pressure in residential fixed internet in major cities. The CRC is advancing priority regulatory projects for 2025-2026, including wholesale mobile network remuneration schemes, user protection reviews, and a local connectivity framework, with proposals to be published in the fourth quarter of 2025 and first quarter of 2026.
WOM, which entered the market in 2021 and cut average tariffs by 22%, voiced concerns over the resulting duopoly. Stan Chudnovsky, a partner in the fund that acquired WOM, said they will analyze future opportunities, as the integration "will definitely affect consumers because it will create a duopoly and prevent small companies like ours from competing." The Ministry of ICT had previously opined that the operation brings efficiencies but must avoid a duopoly. The integration request was filed on January 22, 2025.