Millicom terminates agreement with Wari and signs agreement to sell its Senegal business
Luxembourg, 31 July, 2017 – Millicom announced today that it has exercised its right to terminate its agreement to sell its Tigo operations in Senegal to Wari Group. Separately, the company also announced that it has signed an agreement to sell its Senegal operations to a consortium consisting of NJJ, Sofima (telecom investment vehicle managed by the Axian Group) and Teyliom Group, subject to customary closing conditions and regulatory approvals.
For further information, please visit: www.millicom.com or contact
Michel Morin +352 277 59094
Mauricio Pinzon +44 (0) 20 3249 2460
Vivian Kobeh +352 277 59084
NJJ is Xavier Niel's private holding company, incorporated in France. NJJ holds various stakes in a broad range of companies in Europe and the USA. Xavier Niel is the founder and main shareholder of Iliad, the parent company of Free in France.
About Axian Group
Axian Group is present in infrastructure and services in countries located in the Indian Ocean and Africa, including: telecommunications through Telma, Tom, TRM and Telco OI; energy through Jovenna and Edm; financial services through Bni Madagascar and Mvola; and real estate with First Immo. The Axian Group belongs to the Hiridjee family.
About Teyliom Group
Teyliom is a diversified investment holding group focused on West and Central Africa and controlled by Mr Yerim Sow, its sole shareholder. It operates through five key strategic business units, Teyliom Telecom, Teyliom Properties, Teyliom Hospitality, Teyliom Finance and Teyliom Industries. Teyliom is one of the precursors of mobile telephony in Africa and has been an active player in the sector since 1996.
Millicom is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovative digital lifestyle services through its principal brand, Tigo. As of December 2016, Millicom employed about 18,000 people and provided mobile services to more than 57 million customers, with a Cable footprint of more than 8.1 million homes passed. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2016, Millicom generated revenue of $6.25 billion and EBITDA of $2.17 billion.