Millicom purchases remaining shares of Chad venture
Millicom International Cellular S.A has purchased the remaining shares in two joint ventures, Navega in Central America and its business in Chad, for a proportional total of $60 million.
Millicom has also reached agreement on the purchase of the remaining 12.5% in its joint venture in Chad. This business had 541,000 subscribers at Q4, 2008 and is today the number two operator in Chad with a 45% market share in a country with a mobile penetration of only 12% but a population of 10 million.
Mikael Grahne, Chief Executive, commented: “I am pleased that we have finalized these two purchases which we have been working on for some time. We continue to buy out the shareholdings of our partners in our operations when it brings incremental value to our own shareholders to do so.”