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

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