Millicom halts Tigo sale; inks new Senegal deal - Mobile World Live

Millicom halts Tigo sale; inks new Senegal deal

31 JUL 2017

Operator group Millicom terminated an agreement to sell its Tigo operations in Senegal to Wari Group, after striking a separate agreement to sell its business in the country to a consortium.

In a statement, Millicom said it had “exercised its right” to terminate the agreement with Wari, struck in February for $129 million.

Millicom’s operations in Senegal will now be sold to a consortium consisting of NJJ Capital, Sofima (a telecoms investment vehicle managed by Axian Group) and Teyliom Group, subject to customer closing conditions and regulatory approvals.

NJJ is controlled by Xavier Niel, the founder of Iliad, and the company holds “various stakes in a broad range of companies in Europe and the US”, said Millicom.

Axian Group, meanwhile, has stakes in the telecoms market, and Teyliom operates as a diversifieid investment-holding group focused on west and central Africa.

Millicom did not provide any further details on the new deal, with the price agreed undisclosed at this stage.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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