MIC ups stake in Tanzanian cellco

6 Feb 2004

Millicom International Cellular (MIC) has announced that it has upped its stake in cellco Millicom Tanzania (Mobiltel) to 84%, following the purchase of a 26% stake from the Tanzanian government for an undisclosed sum. Tanzania is Millicom’s largest African market; with a population of 25 million and mobile penetration standing at just 3%, it has significant growth potential.