NEW YORK-Millicom International Cellular S.A. announced it sold its interests in Bharti
Cellular Ltd., Bite GSM UAB and Comliet UAB.
The company sold its 13-percent interest in Bharti Cellular Ltd. in
Delhi, India, for $25.9 million to British Telecommunications plc. Millicom also completed the sale of its 35.8-percent
interest in Bite GSM UAB and 24.5-percent interest in Comliet UAB to Tele Danmark A/S for $80 million.
The
$18.2 million capital gain on the Bharti transaction and the $56 million gain on the Bite and Comliet transactions will
be accounted for in MIC’s fourth-quarter results, said the company.
The sale proceeds from these and other
transactions MIC has completed in Estonia “will be used to develop MIC’s operations in Europe and the
emerging markets which continue to experience accelerated rates of growth,” said Marc Beuls, MIC’s president
and chief executive officer.
