|By Business Wire||
|December 4, 2012 02:25 AM EST||
Millicom International Cellular S.A. (“Millicom”)(NASDAQ:MICC)(STO:MIC) today renewed its license in Colombia for a further 10 years.
Colombia Movil (an affiliate of Millicom) renewed its license for another 10 years (up until February 2023). In February 2013, the company will pay COP 93,000 million (approximately USD51m). The final consideration to be paid for the renewal and 50 MHz of spectrum in the 1900 MHz spectrum band will be determined by the “Tribunal de Arbitramiento” (Arbitrage Court) in the next 12-18 months.
Hans-Holger Albrecht, President and CEO of Millicom commented “We are pleased to have renewed our license in Colombia today. Colombia is one of the fastest growing markets for us and we look forward to continue bringing innovative digital products and services to the people of Colombia through this license renewal.”
Millicom International Cellular S.A. is a global telecommunications group with mobile telephony operations in 13 countries in Latin America and Africa. It also operates various combinations of fixed telephony, cable and broadband businesses in six countries in Latin America and online and e-commerce services in a number of countries in Latin America and Africa. The Group’s mobile operations have a combined population under license of approximately 273 million people.
This press release may contain certain “forward-looking statements” with respect to Millicom’s expectations and plans, strategy, management’s objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that Millicom’s actual results in the future could differ materially from those anticipated in forward-looking statements depending on various important factors. Please refer to the documents that Millicom has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Millicom’s most recent annual report on Form 20-F, for a discussion of certain of these factors.
All forward-looking statements in this press release are based on information available to Millicom on the date hereof. All written or oral forward-looking statements attributable to Millicom International Cellular S.A., and Millicom International Cellular S.A. employees or representatives acting on Millicom’s behalf are expressly qualified in their entirety by the factors referred to above. Millicom does not intend to update these forward-looking statements.
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