Stockholm-listed telecom group Millicom International Cellular
S.A. (MIC-SDB.SK) Monday said MTN Group Ltd. (MTN.JO) will join the
company and Rocket Internet as a partner in African online venture
Africa Internet Holding (AIH), in order to help boost the venture's
growth.
MAIN FACTS:
-The three partners will own one third of the company each upon
closing.
-AIH offers a broad range of services from real estate
classifieds to electronics marketplace, food delivery to fashion
e-commerce and hotel booking to taxis ordering. It is now active in
13 African countries.
-The agreement is subject to customary closing conditions,
including necessary regulatory approvals, and expected to be
completed in 2Q 2014.
-"We are pleased to welcome MTN as a strategic partner to
accelerate the growth of our online alliance in Africa," Millicom
CEO Hans-Holger Albrecht said.
-Millicom shares closed Friday at SEK582.
Write to Gustav Sandstrom at gustav.sandstrom@dowjones.com
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