- The Luxembourg-headquartered group had announced on April 19, 2021 its decision to sell its entire operation in Tanzania to a consortium led by Axian, a pan-African group.
Tigo Tanzania completed the sale of its African interest on April 5, 2022 at a price of $100 million. With the transaction completed, the company Millicom has become an entirely Latin American operator. The Luxembourg-headquartered group had announced on April 19, 2021 its decision to sell its entire operation in Tanzania to a consortium led by Axian, a pan-African group. Millicom’s multi-year plan to divest its African operations and associated obligations and liabilities comes to an end with the completion of the transaction. It had stated that they would like to focus on its Latin America markets and gradually disposed of all its African interests over the past few years. India’s Bharti Airtel bought its Ghanaian operation and Rwanda unit, while Orange picked up Millicom’s unit in the Democratic Republic of the Congo.
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Millicom’s current operations are in Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Paraguay, offering mobile, broadband and pay-TV services. Through its investment-led strategy, the company said it is bringing reliable high-speed mobile and fixed broadband to the communities in the region.
Axian, is a Madagascar group and was part of the consortium that acquired Millicom’s operations in Senegal in 2018. With the completion of the sale, Axian has assumed ownership of the business, including its debt and other obligations. Axian’s CEO Hassanein Hiridjee observed that the agreement with Millicom, provides Axian an opportunity to accelerate the digital inclusion and support economic growth ofTanzania and in Zanzibar.
The agreement also covers ownership in the EASSy cable landing station in Dar ss Salaam and a consortium network with over 3,200km of backbone and over 600km of metro fibre.
