NEW YORK, STOCKHOLM, LONDON, LUXEMBOURG, Sept. 21, 2004 (PRIMEZONE) -- Millicom International Cellular S.A. ("Millicom") (Nasdaq:MICC) (Stockholmsborsen and Luxembourg Stock Exchange: MIC) announces that its subsidiary Paktel is today starting legal proceedings in Pakistan against the PTA (the Pakistani regulator) at the Supreme Court to enforce the contractual agreement between the parties announced on September 3, 2004.
The written agreement between Paktel and the PTA specified that, on payment of US$11.1 million, Paktel would be allowed to launch GSM services. In accordance with this agreement, Paktel paid US$11.1 million to the PTA by cheque on September 7, 2004, which was cashed by the PTA on September 17, 2004. The PTA is now in breach of contract by its refusal to allow Paktel to launch GSM services and Paktel is now appealing to the Supreme Court to enforce its right to switch on its GSM network.
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.
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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