Millicom To Sell Oasis To Orange - Quick Facts

(RTTNews) - Millicom International Cellular (MICC, MIICF.PK) announced an agreement for the sale of its Tigo business in the Democratic Republic of Congo to Orange S.A. The company will sell 100% of the share capital in Oasis SA for $160 million.

Mauricio Ramos, CEO of Millicom said: "The sale of Tigo DRC is in line with our strategy of supporting consolidation and concentrating our resources in our most promising markets. Proceeds from the sale will strengthen our balance sheet allowing us to reinvest in our existing Latin American and African markets, improving earnings and cash flow and reducing leverage."