investment

Millicom’s Tigo outlined plans to spend $700 million on its mobile and broadband networks in Central America over the next two years, in response to calls made by US Vice President Kamala Harris encouraging private sector investment in the region.

Airtel Africa unveiled plans to sell a stake of its mobile money business to investment company TPG for $200 million, advancing a broader strategy of cashing-in on its assets.

Reliance Industries was reportedly in early talks with ByteDance regarding an investment in its TikTok social media business, a move which could rescue the app’s presence in India.

Reliance Industries confirmed reports Google was set to invest in its digital unit, with the search giant committing INR337 billion ($4. 5 billion) with a view to boosting smartphone penetration in India.

Speculation Google was set to become the latest big-name investor in Reliance Industries’ digital business resurfaced, with Bloomberg reporting the companies were on the brink of agreeing a $4 billion deal.

Spain’s government pledged to protect Telefonica from hostile takeover bids which may emerge from overseas investors seeking to take advantage of a sharp drop in the operator’s share price, in provisions made in emergency legislation.

AT&T CFO John Stephens revealed a commitment to invest an additional $1 billion if US tax reforms pass would be possible, in part, because of a lift expected to occur at the operator’s enterprise segment.