Millicom on the market

19 Jan 2006

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.

Luxembourg, China Mobile, Millicom International Cellular (MIC)