Is Millicom for Sale? (MICC)

Includes: CHL, MIICF

According to the Financial Times, Millicom International Cellular (MICC) has put itself up for sale. FT reports that Millicom has received approaches from a number of competitors which are believed to include China Mobile (CHL): "People close to China Mobile on Thursday said the state-controlled group was one of the potential suitors, in the latest example of the desire for overseas acquisitions by a large Chinese company." Millicom's board appointed Morgan Stanley to conduct a strategic review after announcing that it received "a high number of unsolicited approaches".

With a market cap of $2.76 billion, Millicom is a global telecommunications investor with cellular operations spanning 16 countries in Asia, Latin America and Africa. The company's operations have a combined population under license of approximately 391 million people. Millicom is scheduled to publish its quarterly report on February 14th. Keep watching...

MICC 1-Year Chart