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Millicom International Cellular and Tele2 AB Agree On the Price for Millicom's Russian Cellular Assets.
NEW YORK, STOCKHOLM, Sweden, and LUXEMBOURG, Nov. 12 /PRNewswire/ --
Millicom International Cellular S.A. ("MIC") (Nasdaq: MICC) and Tele2 AB ("Tele2") (Nasdaq: TLTOA, TLTOB) and (Stockhomsborsen: TEL2A and TEL2B) announced today, that their respective managements have agreed on a price of US$ 80million for MIC's Russian cellular telephony assets, plus a maximum of US$ 30million, depending on the outcome of GSM licence applications for MIC's existing cellular telephony operations.
The shareholders of Tele2 will be given the opportunity to decide at an Extraordinary General Meeting on November 28th 2001.
Lars-Johan Jarnheimer, CEO of Tele2 AB said: "The opportunity to purchase MIC's Russian assets is a natural progression following our success in developing the business in the Baltics, notably the Estonian business purchased of Millicom in 1998. Russia is a growth market with exciting prospects, and Tele2 now has a strong base to build a substantial business, with the benefits of eight GSM licences."
Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in Asia, Latin America, Russia and Africa. It currently has a total of 32 cellular operations and licenses in 19 countries. The Group's cellular operations have a combined population under license (excluding Tele2) of approximately 535 ...
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