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NEW YORK-Millicom International Cellular S.A. announced it holds an 18.5 percent interest in a joint venture licensed to provide Global System for Mobile communications cellular service in the Republic of Lithuania.
The venture, Mobile Telecommunications, plans to begin operations in the fall. Other shareholders are Tele Denmark International with 18.5 percent and three Lithuanian companies sharing 63 percent.
In light of the new venture, Millicom plans to reduce its ownership from 29 percent to 24.5 percent in Comliet, the country’s analog cellular company. Tele Denmark will increase its ownership in Comliet from 20 percent to 24.5 percent. Millicom has cellular phone interests in 19 countries in Asia, Latin America, Europe and Africa.
