Millicom to Buy Out Celtel in Honduras

Millicom International Cellular S.A today announced that Millicom and its local partner in Honduras have reached an agreement that gives Millicom full control of Celtel, its Honduran subsidiary.

Thursday, July 1, 2010

Under the revised shareholders' agreement, the local partner has granted Millicom an unconditional call option for his 33% stake for the next five years. Millicom has granted a put option for the same duration to the local partner in the event of a change of control of Millicom.

As a result of this agreement, Celtel will now be fully consolidated into the Millicom Group financial statements from Q3 2010. Previously, the results of the Honduras operations were proportionately consolidated.

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

El Salvador: Amnet Operates Under Tigo Brand

May 2009

El Salvador is the first country in Central America where there was a complete merger.

Tigo’s parent company, Millicom International Cellular S. A., invested $14 million to expand Amnet's network in the country.

La prensagrafica.com reported statements by Ignacio Baratelli, CEO of Tigo El Salvador: "Amnet is now Tigo.

Costa Rica attracts Millicom and Digicel

September 2008

At the end of 2013 mobile phone services in Costa Rica will have reached at least $1,1 billion, according to calculations by market analyst, Signal Consulting.

The forecast is based on the potential created by the opening of the sector after the creation of the Telecommunications Superintendence (SUTEL), which will paved the way for the entrance of new competitors in the local market.

Swedish firm buys AMNET for $510 million

July 2008

The Swedish firm Millicom has purchased the telecommunications company AMNET for 510 million dollars, and will acquire its 350,000 cable clients in Honduras, Costa Rica and El Salvador.

AMNET offers services of cable television, telephone and internet as a multimedia "Triple Play" package.

Millicom sees 78% increase in net profit in Q1

April 2008

Luxembourg-based mobile holding company Millicom Cellular International (Nasdaq: MICC), which operates in the Latin American region under the Tigo brand, continued to see strong growth in its traditional stronghold of Central America, with Honduras outstripping other countries in terms of subscriber growth, growing 88% and adding 515,000 subscribers.

Millicom posted a 78% increase in net profit to US$158mn in the first quarter of 2008 compared to US$89mn in 1Q07, the company said in a statement.

ok