Millicom signs agreement to acquire Zanzibar Telecom
Stockholm, June 5, 2015 – Millicom (Stockholmsbörsen: MIC), today announced that it has signed a Share Purchase Agreement to acquire an 85% stake in Zanzibar Telecom (Zantel) from Etisalat Group.Zantel is the leading mobile telecom operator on the islands of Zanzibar with 2014 gross revenues of $82 million and 1.7 million subscribers across Zanzibar and mainland Tanzania. It operates 2G and 3G services over 545 network sites, with 57MHz of spectrum(1) and has ownership rights to undersea fibre optic cable capacity. Zantel has an approximate 5% share of the Tanzania mobile market(2).