Millicom International Cellular S.A.
FULL CONSOLIDATION OF OPERATIONS IN HONDURAS
Millicom International Cellular S.A. / 01.07.2010 08:00 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- New York and Stockholm, 1 July 2010 - Millicom International Cellular S.A. ('Millicom') (Nasdaq Stock Market: MICC and Stockholmsbörsen: MIC) today announces that Millicom and its local partner in Honduras have reached an agreement that gives Millicom full control of Celtel, its Honduran subsidiary. As a result of this agreement, Celtel will now be fully consolidated into the Millicom Group financial statements from Q3 2010. Previously, the results of the Honduras operations were proportionately consolidated. Under the revised shareholders' agreement, the local partner has granted Millicom an unconditional call option for his 33% stake for the next five years. Millicom has granted a put option for the same duration to the local partner in the event of a change of control of Millicom. While having no impact on reported net profit or Millicom's overall financial exposure to Honduras, the pro forma impact of this change on the Group financial statements for the year to December 2009 is to increase revenues by 6%, EBITDA by 7% and operating free cash flow by 9%. As an appendix to our Q2 2010 earnings release on 20 July 2010, we will provide the pro forma Group income statements for the four quarters of 2009 and Q1 and Q2 2010, restated to reflect the full consolidation of Honduras. These will also be available to download in Excel format at www.millicom.com. CONTACTS Francois-Xavier Roger Chief Financial Officer Telephone: +352 27 759 327 Peregrine Riviere Head of External Communications Telephone: +352 691 750 098 Emily Hunt Investor Relations Telephone: +44 7779 018539 Millicom International Cellular S.A., Luxembourg Visit our web site at http://www.millicom.com Millicom International Cellular S.A. is a global telecommunications group with mobile telephony operations in 14 countries in Asia, Latin America and Africa. It also operates cable and broadband businesses in five countries in Central America. The Group's mobile operations have a combined population under license of approximately 266 million people. This press release may contain certain 'forward-looking statements' with respect to Millicom's expectations and plans, strategy, management's objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that Millicom's actual results in the future could differ materially from those anticipated in forward-looking statements depending on various important factors. Please refer to the documents that Millicom has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Millicom's most recent annual report on Form 20-F, for a discussion of certain of these factors. All forward-looking statements in this press release are based on information available to Millicom on the date hereof. All written or oral forward-looking statements attributable to Millicom International Cellular S.A., any Millicom International Cellular S.A. employees or representatives acting on Millicom's behalf are expressly qualified in their entirety by the factors referred to above. Millicom does not intend to update these forward-looking statements. News Source: NASDAQ OMX 01.07.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Millicom International Cellular S.A. Sweden Phone: Fax: E-mail: Internet: ISIN: SE0001174970 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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