Millicom said it has exercised its right to terminate its agreement to sell its Tigo operations in Senegal to Wari Group for USD 129 million. Separately, the company also announced that it has signed an agreement to sell its Senegal operations to a consortium consisting of NJJ, Sofima (telecom investment vehicle managed by the Axian Group) and Teyliom Group, subject to customary closing conditions and regulatory approvals.
NJJ is Iliad founder Xavier Niel's private holding company, incorporated in France. NJJ holds various stakes in a broad range of companies in Europe and the US.
Axian Group is present in infrastructure and services in countries located in the Indian Ocean and Africa, including telecommunications through Telma, Tom, TRM and Telco OI; energy through Jovenna and Edm; financial services through Bni Madagascar and Mvola; and real estate with First Immo. The Axian Group belongs to the Hiridjee family.
Teyliom is an investment holding group focused on West and Central Africa and controlled by Yerim Sow, its sole shareholder. It operates through five key strategic business units, Teyliom Telecom, Teyliom Properties, Teyliom Hospitality, Teyliom Finance and Teyliom Industries. Teyliom is one of the precursors of mobile telephony in Africa and has been an active player in the sector since 1996.
