PAKTEL SWITCHES ON GSM IN PAKISTAN AND AGREES NEW LICENSE TERMS
PAKTEL SWITCHES ON GSM IN PAKISTAN AND AGREES NEW LICENSE TERMS New York, Stockholm, London and Luxembourg - October 25, 2004 - Millicom International Cellular S.A. ("Millicom") (Nasdaq Stock Market: MICC, Stockholmsbörsen and Luxembourg Stock Exchange: MIC), announces today that its subsidiary Paktel has signed agreements with the Pakistan regulator (PTA) to switch on its GSM network with immediate effect without charge and to renew its license for 15 years from October 23rd 2004. Paktel and the PTA have agreed deferred payment terms for the license fee of USD 291 million for the license,