Millicom Sells 750 Towers in Ghana

Mergers, Acquisitions and Financial Results

Millicom Ghana (trading as Tigo) has agreed to sell approximately 750 towers to Helios Towers Ghana, a direct subsidiary of Helios Towers Africa. As a result of the transaction, Tigo Ghana will retain a minority interest in HTG.

Additionally, Tigo Ghana and Helios Towers have entered into a long term leasing agreement where Helios Towers will provide Tigo Ghana with wireless communications towers, including a build-to-suit agreement to support the company's wireless networks. Helios Towers will seek similar agreements with other operators in Ghana. The transaction is expected to create savings in both capital and operating expenditure for Tigo Ghana.

Mikael Grahne, President and CEO of Millicom, said: "This agreement marks our first substantial commitment to outsourcing passive infrastructure, and is entirely consistent with our strategy of improving both our capital and operating efficiency by focusing on our core activities. Operators around the world are increasingly recognising that owning and operating all of their own network infrastructure does not confer a competitive advantage. The new venture will allow Tigo Ghana to focus on areas of genuine differentiation: sales, marketing, distribution, service innovation and customer care."

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