Millicom To Incur $135M To Update Ericsson's Mobile Networks Partnership In Honduras, Paraguay, Bolivia

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Millicom International Cellular SA TIGO will be investing $135 million over the next two to three years to upgrade its mobile network in partnership with Telefonaktiebolaget L M Ericsson ERIC in three critical Latin American markets, Honduras, Paraguay, and Bolivia.
The collaboration will enable Millicom to achieve the additional capacity to manage the pandemic-driven traffic surge by modernizing its networks with LTE, 5G-ready technology.
Millicom will modernize its network using the latest Ericsson Radio System products and solutions, paving the way for 5G deployment across the continent.
Ericsson will also replace TIGO's current 4G packet core and introduce Ericsson's dual-mode 5G Core as part of the project.
Millicom held $780 million in cash and equivalents as of Mar. 31, 2021.
Price action: ERIC shares traded lower by 0.69% at $12.95, and TIGO shares traded higher by 1.30% at $39.83 on the last check Thursday.