PRESS RELEASE

Millicom, Liberty Latin America confirm takeover talks

By
Tuesday, January 15, 2019

Following press reports, Luxembourg-based telco Millicom confirmed that it had received an offer to be acquired by Liberty Latin America. Liberty Latin America later published is own press release confirming the reports.

Both short press releases are detailed below:

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The Board of Millicom International Cellular S.A. notes recent media articles regarding the Company and confirms that it has received a preliminary highly conditional non-binding proposal from Liberty Latin America Ltd. in relation to an offer for all shares of the Company. There is no certainty that a transaction will materialize nor as to the terms, timing or form of any possible transaction.

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Liberty Latin America confirms discussions with Millicom Denver, Colorado - January 14, 2019: Liberty Latin America Ltd. ("Liberty Latin America" or "the Company") (NASDAQ: LILA and LILAK, OTC Link: LILAB) notes the statement issued today by Millicom International Cellular S.A. ("Millicom") and confirms that it has submitted a preliminary, highly-conditional, non-binding proposal regarding a possible transaction. There can be no assurance that any transaction will proceed or what the deal terms would be. Liberty Latin America's Board regularly evaluates all options to serve the best interests of the Company and its shareholders and will continue to do so. We do not intend to make any further comment until such time as a definitive decision has been made.