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 Friday, November 28, 2008

Millicom International Cellular says that it has won the license to operate Rwanda's third mobile phone network. ­Millicom will hold 87.5% of the equity in a newly created joint venture company in partnership with Marathon Corporation, an established local company with numerous business interests in Rwanda. The joint venture will pay US$60 million for the 15 year license.

Rwanda has some 10 million inhabitants and is a country of some 26,000 sq.km, located between Millicom's existing operations in DRC and Tanzania, giving potential to create synergies between the three businesses over time. Mobile penetration in Rwanda is low, at some 9%, and there are currently only two operators: Rwandatel and MTN, of which MTN is the dominant operator with around 1 million subscribers. The structure of the mobile industry presents Millicom with the opportunity to build a business with a significant market share.

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Source: Cellular News.

Friday, November 28, 2008 4:54:39 PM (W. Europe Standard Time, UTC+01:00)  #     |