Tigo Sri Lanka sale by March 2010

24 Aug 2009

Luxembourg-based mobile group Millicom International Cellular (MIC) will complete a sale of its subsidiary Tigo Sri Lanka by March 2010, its head of communications, Perigreen Riviera, has told Sri Lankan newspaper The Sunday Times. Riviera said that the planned sale of the cellco, registered under its original name of Celltel Lanka, had attracted several expressions of interest, but would not specify on the number of approaches or the identity of the interested parties. However, industry sources previously claimed that the owners of two of Tigo Sri Lanka’s rivals are amongst the contenders, namely Malaysia’s Axiata (formerly TM International), which controls mobile market leader Dialog Telekom, and India’s Bharti Airtel, the parent of the island’s newest wireless operator, Airtel Lanka, which launched 2G/3G services in January before announcing last month that it had reached one million subscribers. Tigo lies in third place in a field of five cellcos, with approximately 2.2 million GSM customers by end-June 2009. Parent MIC is in the process of offloading several of its Asian cellular assets, and reached agreement on a sale of its Cambodian unit CamGSM (Mobitel) to local partner the Royal Group earlier this month.

Sri Lanka, Etisalat Lanka, Millicom International Cellular (MIC)