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Millicom International Cellular: Millicom's Costa Rica Subsidiary Files Application for Transaction
[December 22, 2014]

Millicom International Cellular: Millicom's Costa Rica Subsidiary Files Application for Transaction


Millicom (News - Alert) (NASDAQ:MICC) (STO:MIC), the international telecommunications and media company (Stockholmsbörsen: MIC), has agreed terms and conditions to acquire the business of TeleCable Económico TVE, S.A. and merge the company with its Costa Rican subsidiary. The agreement is subject to regulatory approval.

Millicom Cable Costa Rica, S. A., trading as Tigo, has made an application for the agreement to be sanctioned by the Superintendencia de Telecomunicaciones (SUTEL), the industry regulator.

If approved, the new company would have an extended geographical coverage and offer consumers a greater range of services and innovative products. It would also add momentum to the recent strategic moves made by the companies such as introducing faster internet, the development of apps for mobil devices for sports and music events and measures to reduce the digital divide.



Tigo in Costa Rica provides residential services such as cable and satellite TV, internet and home phone IP. It also provides data connection services to the corporate market, high speed internet, IP business telephony and many other local services.

About Millicom


Millicom is a leading international telecommunications and media company dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing digital lifestyle services to the world's emerging markets, giving access to the world, primarily through mobile devices. Operating in fourteen countries, using the Tigo brand, Millicom offers innovative and customer-centric products. Millicom employs more than 16,000 people and provides mobile, cable, broadband, TV content, online and financial services to over 50 million customers. Founded in 1990, Millicom is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2013 Millicom generated revenue of $5.16 billion and EBITDA of $1.9 billion.

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