Millicom declines sale to China Mobile

Jul 03, 2006

Millicom International Cellular's proposed sale to China Mobile appeared to be off Monday as Millicom reported an unsatisfactory due-diligence report.

Millicom, which runs wireless operations in developing nations, said in a brief statement that the prospective buyer "will not be in a position within an acceptable timeframe to make a binding offer that is suitably attractive."

The statement did not identify the buyer; however earlier media reports had stated that Millicom was in talks with China Mobile about a deal that would dramatically increase China Mobile's presence in the international telecom market.

Sweden-based Millicom's statement did not indicate whether or not it would consider any other overtures, but said the board was confident in "the independent future of the company."

Copyright 2006 by United Press International

Explore further: Microsoft sues Samsung alleging contract breach

add to favorites email to friend print save as pdf

Related Stories

IPCC must consider alternate policy views, researchers say

Jul 07, 2014

The Summary for Policymakers recently produced by the Intergovernmental Panel on Climate Change has triggered a public debate about excessive governmental intrusion in the IPCC process. The IPCC cannot avoid alternative political ...

Open Internet threats loom, study says

Jul 03, 2014

The future of an open Internet faces threats from government crackdowns, and "balkanization" resulting from growing concerns over broad electronic surveillance, a survey of experts showed Thursday.

Scientist gets World Food Prize for wheat advances

Jun 18, 2014

A crop scientist credited with developing hundreds of varieties of disease-resistant wheat adaptable to many climates and difficult growing conditions was named Wednesday as the 2014 recipient of the World Food Prize.

NASA warned plan to send humans to Mars may fail

Jun 06, 2014

The US space agency NASA has been warned that its mission to send humans to Mars will fail unless its revamps its methods and draws up a clear, well-planned strategy to conquer the red planet.

Recommended for you

Microsoft sues Samsung alleging contract breach

6 hours ago

Microsoft on Friday sued Samsung in federal court claiming the South Korean giant had breached a contract over cross-license technology used in the fiercely competitive smartphone market.

Apple closes acquisition of Beats music

13 hours ago

Apple said Friday it closed its $3 billion deal for Beats, the high-end audio equipment and streaming music service, a tie-up that could allow the iPhone maker to reach new audiences.

User comments : 0