Wednesday, July 29, 2009

Africell Buys Millicom Sierra Leone

Africell Holding, a member of the Lintel group, has agreed to buy Millicom's GSM operations in Sierra Leone.
Completion of the transaction is subject to certain regulatory approvals and procedures. Africell Holding, through its wholly owned subsidiary Africell (Sierra Leone), has been operating in Sierra Leone since 2005 and is the leading mobile operator in Sierra Leone.
This acquisition will contribute to domestic consolidation, and further enhance Africell's market leadership in Sierra Leone. Millicom, which operates under the brand Tigo, has classified the Sierra Leone operation as an asset held for sale since Q4 2008. No financial details of the takeover were released.

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