NEW YORK, STOCKHOLM, LONDON and BERTRANGE, Luxembourg, Sept. 03, 2004 (PRIMEZONE) -- Millicom International Cellular S.A. ("Millicom") (Nasdaq:MICC) (Stockholmsborsen: MIC), today announces that its subsidiary Paktel and the PTA (the Pakistani regulator) have reached an agreement regarding the launch of GSM services by Paktel. Paktel has been granted permission to switch on its network against a one-off payment of $11.1million. Paktel expects to launch its GSM services in a few days' time.
As a separate matter, Paktel is continuing its legal proceedings regarding the renewal fee for the extension of its license for 15 years in April 2005.
Marc Beuls, President and CEO of Millicom International Cellular S.A. commented: "Now that Paktel has been allowed to switch on its GSM network, it can take full advantage of the substantial opportunities in the Pakistani mobile market where the prospects are excellent."
About Millicom International Cellular
Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has a total of 16 cellular operations and licenses in 15 countries. The Group's cellular operations have a combined population under license of approximately 387 million people.
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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 members or persons 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.
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