MIC completes acquisition of Amnet

2 Oct 2008

Millicom International Cellular (MIC) has announced that it has completed the acquisition of 100% of Amnet Telecommunications Holding Limited (Amnet) for USD510 million, following the agreement initially announced in July. Amnet is a provider of broadband and cable television services in Costa Rica, Honduras and El Salvador, provides fixed line telephony in El Salvador and Honduras, and provides corporate data services in the aforementioned countries as well as Guatemala and Nicaragua. In the year to December 2007 it recorded revenue of USD143 million and EBITDA of USD56 million. At the end of June 2008 Amnet claimed 496,000 revenue generating units (RGUs), up from 412,000 RGUs a year earlier.

Costa Rica, El Salvador, Honduras, Cable El Salvador (Tigo Star), Millicom International Cellular (MIC)