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Wireless

Millicom to sell DR Congo business to Orange for USD 160 mln

Monday 8 February 2016 | 09:01 CET | News
Millicom has signed an agreement for the sale of its Tigo business in the Democratic Republic of Congo (DRC) to Orange. The transaction is subject to regulatory approvals. In a statement, Millicom said it will sell 100 percent of the share capital in the holding company Oasis for a total cash consideration of USD 160 million. Mauricio Ramos, CEO of Millicom said the sale of Tigo DRC is in line with the group's strategy of supporting consolidation and concentrating resources in its most promising markets. Millicom said it will use the proceeds from the sale to strengthen its balance sheet

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Categories: Mobile & Wireless
Companies: Millicom / Orange / Tigo
Countries: Congo, The Democratic Republic of the
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