Millicom International Cellular SA and billionaire Xavier Niel have reached an agreement to purchase Telefonica's Chilean operations for $1.22 billion. Bloomberg posted on X, highlighting that this acquisition will significantly enhance Millicom's presence in the Latin American telecommunications market. The deal marks a strategic expansion for Millicom, which is seeking to strengthen its position in the region's telecom industry. Xavier Niel, known for his investments in telecommunications, is partnering with Millicom to facilitate this acquisition. The transaction underscores the growing interest in Latin America's telecom sector, which has been attracting international investors due to its potential for growth and development. The acquisition is expected to provide Millicom with increased market share and operational capabilities in Chile, further solidifying its role as a key player in the region.