Millicom to sell its Rwanda business to Bharti Airtel
Luxembourg, 19 December, 2017 – Millicom announced today that it has signed an agreement for the sale of its Rwanda operations to subsidiaries of Bharti Airtel Limited. The total consideration of the transaction is approximately 6x 2017 adjusted EBITDA, payable over two years, consisting of a mix of cash, vendor loan note and earn out. The transaction is subject to regulatory approvals. Mauricio Ramos, CEO of Millicom, commented: “The sale of our business in Rwanda is in line with our strategy to focus on providing advanced fixed and mobile data services in Latin America. We are very