Millicom Completes Zantel Acquisition
Stockholm, 26 October, 2015 – Millicom today announced that, following
regulatory approval, it has completed the acquisition of an 85% stake in
Zanzibar Telecom (Zantel).
Zantel is the leading mobile telecom operator on the island of Zanzibar with
gross revenues in 2014 of $82 million. It operates 2G and 3G services over 545
network sites and has ownership rights to undersea fibre optic cable capacity.
Zantel has an approximate 5% share of the Tanzanian mobile market.
Cynthia Gordon, Chief Executive Officer of Millicom Africa Division said:
“Millicom will work alongside the Government of Zanzibar to create a strong and
revitalized Zantel bringing new benefits to the people of Zanzibar such as
improved customer experience on voice, data and mobile financial services.”
Millicom’s transaction involved repaying Zantel’s outstanding debt at closing.
This was achieved through a new loan supported by Standard Chartered Bank and
The Swedish Export Credit Corporation.
The Government of Zanzibar has retained its 15% stake in the company.
Tabitha Aldrich-Smith, Interim Communications Director
Tel: +352 277 59084 (Luxembourg) / +44 7971 919 610 / firstname.lastname@example.org
Nicolas Didio, Director, Head of Investor Relations
Tel: +352 277 59125 (Luxembourg) / +44 203 249 2220 / email@example.com
Millicom is a leading telecom and media company dedicated to emerging markets in
Latin America and Africa. Millicom sets the pace when it comes to providing
innovative and customer-centric digital lifestyle services to the world’s
emerging markets. The Millicom Group employs more than 16,000 people and
provides mobile services to over 59 million customers. Founded in 1990, Millicom
International Cellular SA is headquartered in Luxembourg and listed on NASDAQ
OMX Stockholm under the symbol MIC. In 2014, Millicom generated revenue of USD
6.4 billion and EBITDA of USD 2.1 billion.
Zantel (Zanzibar Telecom) is the leading data telecommunications brand in
Zanzibar and its largest internet provider. Its integrated telecom service
provide International Gateway services, Fixed, Mobile and data services through
its GSM and 3G networks.