Millicom sells part of its stake in BIMA

Millicom sells 8.4% of the shares in BIMA as part of a transaction that sees Allianz X investing $96.6 m in the micro-insurance businessLuxembourg, 19 December, 2017 – Millicom announced today that it has reduced its ownership stake in BIMA from 20.4% to 12.0% as part of a transaction that sees Allianz X investing $96.6m in the micro-insurance business. As a result of the transaction, Millicom receives $24m in cash. BIMA is a leading digital micro-insurer utilizing mobile technology to serve low-income customers in Africa, Asia and Latin America. BIMA’s proprietary technology delivers