Swedish telco Millicom signed an agreement with the government of Senegal today to end their dispute over the validity of Millicom’s licence in the country.
As previously reported, the year-long dispute was settled on 29 August but today saw the final…
Swedish telco Millicom signed an agreement with the government of Senegal today to end their dispute over the validity of Millicom’s licence in the country.
As previously reported, the year-long dispute was settled on 29 August but today saw the final confirmation of a settlement which will grant Millicom a 3G licence in Senegal. Justine Dimovic, investor relations spokesperson at Millicom, told TelecomFinance that the new licence expires in 2018.
The company also announced today that it is terminating the registration of its stock in the US. Millicom de-listed from the US over a year ago and has been trading over the counter, but has decided to terminate its registration and reporting obligations with the US Securities and Exchange Commission. The company will continue to trade over the counter but this filing will effectively simplify Millicom’s reporting obligations in the US.
“Upon such filing, Millicom’s reporting obligations with the SEC will be suspended immediately,” said the statement. “The termination of Millicom’s registration and reporting obligations is expected to become effective no later than 90 days after such filing if there are no objections from the SEC.”
