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Millicom to split assets in Asia ahead of sale

Millicom to split assets in Asia ahead of sale

Stakes in Cambodia, Laos and Sri Lanka to be separated before sales due by Q1 of next year

MILLICOM International SA, the Luxembourg-based company that holds a 58.4 percent stake in Cambodian mobile-phone operator Mobitel, said Monday it will likely split its Asian assets ahead of a proposed sale this year.

"We expect the Asian countries to now be sold separately," said Perregrine Riviere, Millicom's head of external relations.

Riviere declined to comment further on the process, which it said last month had been outsourced to Goldman Sachs, except to say that there have been "multiple expressions of interest".

Millicom previously said it expected the sale of its Cambodian, Laotian and Sri Lankan assets would be finalised by the first quarter of 2010.

Malaysia's Axiata, which runs Cambodian mobile-phone provider Hello, and Royal Group, which holds a 38.5 percent stake in Mobitel, are reported to be among a host of bidders for the Cambodian asset.

Muhammad Akhtar Zaman, who owns the remaining 3.1-percent share in Mobitel, said he will sell his stake.
"I will follow Millicom [International] on this," he said Monday.

Zaman also holds a 4-percent stake in Millicom Lao, according to Millicom reports.

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