Emerging markets-focused operator Millicom has agreed to sell its 50% stake in Mauritius’ Emtel to its local joint venture partner Currimjee Jeewanjee.
The transaction value has not been disclosed but Millicom said the move allows it to focus on its…
Emerging markets-focused operator Millicom has agreed to sell its 50% stake in Mauritius’ Emtel to its local joint venture partner Currimjee Jeewanjee.
The transaction value has not been disclosed but Millicom said the move allows it to focus on its major investments in Latin America and Africa.
The group will continue collaborating with Emtel through a business support agreement.
The deal is subject to approval from Mauritian authorities.
Emtel, which was created 25 years ago, is Mauritius’ second-largest mobile operator. Its main rival is Orange while MTML also provides wireless services.
Millicom has mobile operations in a dozen countries, principally in Latin America and Africa. It is in the process of merging its subsidiary Tigo Colombia with local triple-play operator UNE EPM.
