International Operators Offer Up to US$685mn for Millicom's Telemóvil

European mobile holding company Millicom International Cellular has received offers of up to 6bn colones (US$685mn) for Telemóvil, its subsidiary in El Salvador, El Salvador newspaper La Prensa Gráfica reported.

China Mobile and Egyptian MTC have been reported as interested bidders.

"Negotiations are stalled, there are only speculations," the report quoted Telemóvil general manager Maximiliano Leiva as saying.

Millicom has hired Morgan Stanley to evaluate how serious these offers are; however, if the company is finally sold, service will not be affected, according to Leiva.

The holding company's other Latin American operators are Telecel Paraguay, Telecel Bolivia, Comcel in Guatemala and Celtel in Honduras.

BNamericas.com"

Posted to the site on 26th May 2006