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Millicom International Cellular - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Millicom International Cellular SA (Millicom or MIC) is an operator of mobile telephone services in some of the world's emerging markets over which it generally exercises management and voting control. As of December 31, 2006, MIC had 17 mobile operations in 17 countries in Central America, South America, Africa and Asia. The company sold its Pakistani operation in February 2007. MIC operates in El Salvador, Guatemala and Honduras in Central America; in Bolivia, Colombia and Paraguay in South America; in Chad, the Democratic Republic the Congo, Ghana, Mauritius, Senegal, Sierra Leone and Tanzania in Africa; and in Cambodia, Laos and Sri Lanka in Asia. At December 31, 2006, excluding Pakistan, the countries where MIC has mobile operations had a combined population of approximately 278 million. The company's total number of subscribers reached 14.9 million at the end of 2006. MIC was formed in December 1990, when cellular telephone properties owned by Kinnevik and Millicom Inc were combined. As at March 31, 2007, the principal shareholder of Millicom was Investment AB Kinnevik, a Swedish holding company with interests in the telecommunications, media, publishing and paper industries, with a 37.6% interest. MIC's shares are traded on the NASDAQ National Market and on the Stockholm Stock Exchange. MIC delisted from the Luxemburg Stock Exchange on January 16, 2006.
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