[February 08, 2016] |
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Millicom International Cellular: Millicom to Sell Its Democratic Republic of Congo Business to Orange
Millicom (News - Alert) International Cellular (NASDAQ:MICC) (STO:MIC)
Millicom today announced that it has signed an agreement for the sale of
its Tigo business in the Democratic Republic of Congo (DRC) to Orange (News - Alert)
S.A. The transaction is subject to regulatory approvals.
Millicom will sell 100% of the share capital in Oasis SA for a total
cash consideration of $160 million.
Mauricio Ramos, CEO of Millicom said: "The sale of Tigo DRC is in line
with our strategy of supporting consolidation and concentrating our
resources in our most promising markets. Proceeds from the sale will
strengthen our balance sheet allowing us to reinvest in our existing
Latin American and African markets, improving earnngs and cash flow and
reducing leverage."
About Millicom
Millicom is a leading telecom and media company dedicated to emerging
markets in Latin America and Africa. Millicom sets the pace when it
comes to providing innovative and customer-centric digital lifestyle
services to the world's emerging markets. The Millicom Group employs
more than 16,000 people and provides mobile services to over 60 million
customers. Founded in 1990, Millicom International Cellular (News - Alert) SA is
headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the
symbol MIC. In 2014, Millicom generated revenue of USD 6.4 billion and
EBITDA of USD 2.1 billion.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20160207005075/en/
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