ATIS Group (“ATIS”), a leading digital infrastructure provider in Latin America, today announced that it has entered into a definitive agreement, signed on April 26, 2025, with Millicom (NASDAQ: TIGO) to acquire Lati Paraguay, a subsidiary owning approximately 300 wireless communications towers in Paraguay.
This transaction marks another milestone in ATIS’s strategic expansion across the Southern Cone, reinforcing its position as the region’s premier independent tower company.
As part of the agreement, ATIS and Tigo Paraguay have also entered into a long-term leaseback arrangement, under which the company will lease tower infrastructure to Tigo Paraguay to continue supporting its mobile network operations. The final number of towers covered under the leaseback will be determined at the time of closing, which is expected to take place in the near term.
“ATIS seeks to develop, own and operate best-in-class mission-critical assets such as wireless telecommunications towers,” said Juan Pablo Blanco, CEO of ATIS Group. “This acquisition – along with prior ones from Telefónica Uruguay and SBA in Argentina – underscores ATIS’ commitment to the Southern Cone region of Latin America. This important agreement with Tigo is in line with our strategy of long-term partnerships with leading wireless communications operators in the region.”
Since the majority acquisition by Towerco Investments LLC in 2022, ATIS has grown from managing 185 sites in Argentina to operating over 1,000 sites across Argentina, Uruguay, and now Paraguay. The acquisition of Lati Paraguay marks the next chapter in ATIS’s mission to deliver future-ready infrastructure that meets the region’s accelerating connectivity needs.
Advisors
Aldo J. Polak acted as financial advisor to ATIS. Daniel Hartstein of Szenberg & Okun PLLC and Estudio Gross Brown served as legal counsel to ATIS. Millicom was represented by Winston & Strawn LLP and BKM | Berkemeyer.
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