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Millicom Heads for African Exit Door: Reports

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Having already struck some divestment and joint venture agreements in Africa during the past year or so, international mobile operator group Millicom, well known for its Tigo brand, is now seeking to sell the remainder of its business in Africa, according to a report from TMT Finance.

According to the report, Millicom is in talks with Econet Wireless Group about the sale of operations in Tanzania, Rwanda and Chad, with the deal potentially worth up to US$1 billion.

Last year, Millicom sold its operations in the Democratic Republic of Congo (DRC) to Orange, is selling its Senegal business to a consortium and has just closed a deal with Bharti Airtel to create a joint venture in Ghana that involves the merger of Tigo Ghana and Airtel Ghana. (See Millicom Signs New Sales Deal for Tigo Senegal and Orange Strikes $160M Deal for Tigo DRC.)

An exit by Millicom from Africa will not come as a major surprise: Connecting Africa reported earlier this year that such a move looked like as Millicom focused more on its operations in Latin America. (See Millicom Africa Exit on the Cards After Positive 2016.)

The staff, Connecting Africa

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