New York and Stockholm April 5, 2006 - Millicom International Cellular S.A. ("Millicom") (Nasdaq Stock Market: MICC, Stockholmsbörsen: MIC), one of the world's leading cellular operators in emerging markets, today announces that it has completed two further buyouts of its minority partners. Millicom has acquired the outstanding 25% minority share in Sentel GSM SA, its mobile operation in Senegal, and has also reached agreement, conditional on regulatory approvals being obtained, to acquire the outstanding 4% share in Telefonica Celular del Paraguay SA, its operation in Paraguay.
Following these transactions, Millicom now has 100% ownership of these two operations.
Marc Beuls, Millicom President and Chief Executive Officer said: It is encouraging that we have reached agreement to buy out our partners in Senegal and Paraguay, following the earlier successful buy outs in Ghana, Sierra Leone and Tanzania in February. Our strategy is to continue to buy out minority holdings when we have the opportunity to do so. The acquisition of minority holdings delivers excellent value to shareholders in that it enables us to control fully the revenues of these businesses which we know well and believe to have excellent prospects.
Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has cellular operations and licenses in 16 countries. The Groups cellular operations have a combined population under license of approximately 391 million people.
This press release may contain certain forward-looking statements with respect to Millicoms expectations and plans, strategy, managements objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that Millicoms actual results in the future could differ materially from those anticipated in forward-looking statements depending on various important factors. Please refer to the documents that Millicom has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Millicoms most recent annual report on Form 20-F, for a discussion of certain of these factors.
All forward-looking statements in this press release are based on information available to Millicom on the date hereof. All written or oral forward-looking statements attributable to Millicom International Cellular S.A., any Millicom International Cellular S.A members or persons acting on Millicoms behalf are expressly qualified in their entirety by the factors referred to above. Millicom does not intend to update these forward-looking statements.
Marc Beuls Telephone: +352 27 759 327
President and Chief Executive Officer
Millicom International Cellular S.A., Luxembourg
Andrew Best Telephone: +44 20 7321 5022
Jon Coles / Tim Burt Telephone: +44 20 7404 5959
Visit our web site at: www.millicom.com