NEW YORK and BERTRANGE, Luxembourg, Sept. 19, 2005 (PRIMEZONE) -- Millicom International Cellular S.A. ("Millicom") (Nasdaq:MICC) (Stockholmsborsen and Luxembourg Stock Exchange: MIC) is pleased to announce that it has completed the acquisition of Oasis, a GSM mobile operation in the Democratic Republic of the Congo (the ``Congo"), from Orascom Telecom Holding SAE for US$35 million. The Congo has one of the largest populations in Africa and the acquisition of Oasis will increase Millicom's population under coverage by over 60 million to 145 million people in seven countries across Africa. The Congo has some two million mobile subscribers and a penetration rate of just 3%; Oasis currently has 77,000 subscribers.
Marc Beuls, President and Chief Executive Officer of Millicom said: "The outlook for mobile telephony in the Congo has improved in recent months with greater stability in the country and an improvement in the economy. The Congo has vast natural resources and a fast growing population and this dynamism suggests that mobile penetration will rise quickly from its current 3%. We have already seen the success of Millicom's low cost operating model and mass distribution network in other African countries which gives us confidence that we will quickly be able to gain significant market share in the Congo."
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 17 cellular operations and licenses in 16 countries. The Group's cellular operations have a combined population under license of approximately 391 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 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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-0- CONTACT: Marc Beuls President and Chief Executive Officer Millicom International Cellular S.A., Luxembourg Telephone: +352 27 759 327 Andrew Best Investor Relations Telephone: +44 20 7321 5022