NEW YORK—Millicom International Cellular and Tele2 have agreed on a price of US$80 million for Tele2 to purchase MIC’s Russian cellular telephony assets, plus up to an additional US$30 million, dependent on the outcome of GSM license applications for MIC’s existing cellular telephony operations.
Subscribe now to get the daily newsletter from RCR Wireless News
“The opportunity to purchase MIC’s Russian assets is a natural progression following our success in developing the business in the Baltics, notably the Estonian business purchased by Millicom in 1998,” explained Lars-Johan Jarnheimer, chief executive officer (CEO) of Tele2. “Russia is a growth market with exciting prospects, and Tele2 now has a strong base to build a substantial business, with the benefits of eight GSM licenses.”