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Millicom to Sell Oasis SA to Orange for $160M

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Millicom International Cellular (NASDAQ: MICC) (STO:MIC)

Millicom today announced that it has signed an agreement for the sale of
its Tigo business in the Democratic Republic of Congo (DRC) to Orange
S.A.(NYSE: ORAN) The transaction is subject to regulatory approvals.

Millicom will sell 100% of the share capital in Oasis SA for a total
cash consideration of $160 million.

Mauricio Ramos, CEO of Millicom said: "The sale of Tigo DRC is in line
with our strategy of supporting consolidation and concentrating our
resources in our most promising markets. Proceeds from the sale will
strengthen our balance sheet allowing us to reinvest in our existing
Latin American and African markets,

See full press release

Posted-In: M&A News Asset Sales Press Releases

 

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