Millicom International Cellular (MIC) has put itself up for sale after receiving unsolicited approaches from several competitors, rumoured to include China Mobile. Other possible candidates could include the ever-acquisitive Egyptian holding company Orascom, South Africa-based MTN, India’s MTNL and Telefonica of Spain. Based in Luxembourg, MIC boasts a large portfolio of assets which includes 17 cellular operations and licences in 16 countries in South East Asia, South Asia, Central America, South America and Africa, covering a population of approximately 392 million. At the end of September 2005 the group claimed 6.4 million proportionate customers, of which just over six million were pre-paid. MIC has appointed Morgan Stanley as financial advisor for the sale. Swedish media and telecoms conglomerate Kinnevik currently owns a 40% stake in MIC.