Millicom to sell its Chad business to Maroc Telecom
Millicom announced today that it has signed an agreement for the sale of its entire operations in Chad to Maroc Telecom. The completion of the transaction is subject to the approval of the Chadian authorities.
The sale of Tigo Chad, the leading provider of digital services in the country, is in line with Millicom’s stated objective of increasing its focus on Latin America.
The transaction is not expected to have a material impact on the Group as a whole.
Millicom is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing highspeed broadband and innovation around The Digital Lifestyle services through its principal brand, TIGO. As of December 31st 2018, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 48 million customers, with a cable footprint of more than 11 million homes passed. Founded in 1992, Millicom International Cellular SA is headquartered in Luxembourg.
About Maroc Telecom
Maroc Telecom is a full-service telecommunications operator in Morocco and the leader in all of its Fixed-Line, Mobile and Internet business sectors. It has expanded internationally and currently operates in ten African countries. Maroc Telecom is listed on both the Casablanca and Paris exchanges, and its majority shareholders are the Société de Participation dans les télécommunications (SPT*) (53%) and the Kingdom of Morocco (30%). Source: Nasdaq