The Board of Directors of the Empresas Publicas de Medellín (EPM), chaired by Mayor Daniel Quintero Calle, asked Millicom, the company in charge of Tigo-UNE’s administration, to immediately present a report on the company’s financial situation. Superintendent of Ministry of Industry and Commerce, Companies and Finance as well as ICT.
In addition, information is needed on suppliers’ compliance with payments and their ability to keep their commitments for June.
Mayor Daniel Quintero said that Tigo-UNE had $500,000 million in assets as of December 31 and has recorded significant losses in previous years.
Given the pace of the losses and the commitments to be fulfilled in June, the EPM Board of Directors considers it necessary for Millicom to provide this information to the relevant superintendents in order to avoid risking the provision of service and the public resources invested in Tigo. -une.
In addition to capitalization of $750,000 million, Millicom has requested authorization for an $860,000 million loan to pay off outstanding debt with suppliers. Similarly, the sale of UNE’s fiber optic infrastructure for Internet, telecommunications and cable television services has been authorized.
“On Monday we have been called in an extraordinary and urgent way for an EPM Board of Directors to decide on whether or not to use public resources to enter UNE, but after studying the situation, I hope it doesn’t happen like that. Millicom has to solve the problem and are responsible for the fact that we have not been able to recover the money, while invoking the clause to protect public properties, the controlling bodies must answer”, said Mayor Quinto.
According to information released by EPM, the financial situation is such that UNE is not paying for the public services provided by the company. In January, the amount of outstanding invoices was $300 billion and in March it increased to $600 billion.
