Telecom service provider Millicom has sold its 50 percent stake in Emtel to Mauritius business partner Currimjee Jeewanjee & Co.
The main focus of Millicom’s will be to make major investments in Latin America and in Africa. Millicom is parting ways after 25 years of investment collaboration in Mauritius.
Millicom, historical partner of Emtel, will continue to remain a close collaborator through the Business Support Agreement it has with Emtel.
Meanwhile, Millicom announced 9 percent growth in the second quarter of 2014.
Millicom said its Colombia business posted 27 percent increase in service revenue, while revenue growth for Cable & Digital Media was 16 percent.
FIFA World Cup app downloaded over 600,000 times fuelled mobile data growth. Mobile data business growth was 22.7 percent.
Its mobile financial services added 114,000 new customers recording strong take-up in Honduras and El Salvador taking the base to over 7.4 million and a penetration of 18.1 percent (excluding Senegal recently launched). Revenue and volume of usage continue to grow strongly at +41 percent and +37 percent respectively.
