In Brief: China Mobile to acquire Millicom

May 24, 2006

China Mobile has reportedly struck a deal to acquire Millicom International, a leading provider of cellular service in underdeveloped world markets.

The Standard said Wednesday that a source confirmed that the transaction had gone through after top bidder Investcom withdrew its offer and dropped out of the bidding.

The price was not revealed; however, The Standard said previous published reports put the price at $4 billion.

Luxembourg-based Millicom has a presence in 16 nations in Latin America, Asia and Africa, and has a subscriber base of nearly 9 million.

If the deal goes through, it would give mainland China the worldwide expansion it has been seeking since losing out in its bid to buy Pakistan Telecom last year. China Mobile is already the world's largest cell provider.

Copyright 2006 by United Press International

Explore further: New approach could reduce human health impacts of electric power generation

Related Stories

Report: China Mobile cool on 3G standard

February 1, 2006

China's adoption of a homegrown technical standard for third-generation (3G) wireless service might not be as done a deal as the industry had assumed.

Recommended for you

Interactive tool lifts veil on the cost of nuclear energy

August 24, 2015

Despite the ever-changing landscape of energy economics, subject to the influence of new technologies and geopolitics, a new tool promises to root discussions about the cost of nuclear energy in hard evidence rather than ...

Team creates functional ultrathin solar cells

August 27, 2015

(Phys.org)—A team of researchers with Johannes Kepler University Linz in Austria has developed an ultrathin solar cell for use in lightweight and flexible applications. In their paper published in the journal Nature Materials, ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.