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General

Millicom buys 85% stake in Zantel with plans to deploy 4G

Friday 5 June 2015 | 09:18 CET | News
Millicom has agreed to buy an 85 percent stake in Tanzanian operator Zanzibar Telecom (Zantel) from the Etisalat Group. Under the terms of the agreement, Millicom will pay a total cash consideration of USD 1 dollar and assume total debt obligations of USD 74 million. In addition, Zantel will have up to USD 32 million in net current liabilities at closing. Millicom expects the EBITDA of Zantel to reach USD 25 million through a combination of bringing new products and services to the existing customer base and delivering greater efficiencies. The acquisition agreement allows for an adjustment

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Categories: General
Companies: Eassy / Etisalat / Millicom / Zantel
Countries: Tanzania, United Republic of
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