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President approves Tigo sale to consortium

25 Apr 2018

The president of Senegal, Macky Sall has this month approved the sale of Millicom International Cellular’s (MIC) local mobile business Tigo to a consortium consisting of NJJ, Sofima (a telecom investment vehicle managed by the Axian Group) and Teyliom Group. The approval decree could signal the end of the transaction dispute that began last year with local company Wari Group also interested in a takeover of Tigo Senegal.

As previously reported by TeleGeography’s CommsUpdate, in July 2017 MIC cancelled its original USD129 million agreement with Wari, instead opting to choose the NJJ-led consortium. Wari appealed this decision the following month and appeared to have the backing of President Sall, who in August 2017 issued a decree approving the original sale of Tigo Senegal to Wari that was agreed in February 2017. Now it appears that the president has had a change of heart and the government sees the consortium as the appropriate buyer of Tigo Senegal.

Senegal, Free Senegal, NJJ Group (incl. NJJ Telecom Europe)

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