Briefs: Millicom continues wireless partner buyout

Apr 05, 2006

Millicom International Cellular announced Wednesday another round of buyouts of minority partners in its worldwide cell-phone business.

The Luxembourg-based company said its most recent transactions gave it 100-percent control of Paraguay's Telefonica Celular del Paraguay and Sentel GSM in Senegal.

The purchase of the last 4 percent of Telefonica Paraguay and 25 percent of Sentel comes on the heels of similar deals carried out recently in Ghana, Sierra Leone and Tanzania.

"Our strategy is to continue to buy out minority holdings when we have the opportunity to do so," Millicom chief executive Marc Beuls said in a statement. "The acquisition of minority holdings ... enables us to control fully the revenues of these businesses which we know well and believe to have excellent prospects."

Millicom has wireless operations in 16 emerging countries in Asia, Africa and Latin America.

Copyright 2006 by United Press International

Explore further: Google's new CFO gets $70M for defecting from Morgan Stanley

add to favorites email to friend print save as pdf

Related Stories

Recommended for you

Wearable device helps vision-impaired avoid collision

22 minutes ago

People who have lost some of their peripheral vision, such as those with retinitis pigmentosa, glaucoma, or brain injury that causes half visual field loss, often face mobility challenges and increased likelihood ...

Yahoo boosts share buyback plan by $2 billion

38 minutes ago

Yahoo on Thursday told US regulators that it will spend another $2 billion buying back shares as the pioneering US Internet search firm continues an effort to re-invent itself.

Blue Freedom uses power of flowing water to charge

4 hours ago

Good friends may decide to tell you something that is not true but nonetheless sustaining: Nothing is impossible. That was the case of Blue Freedom co-founder who asked his friend if it would be possible ...

User comments : 0

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.