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Millicom International Cellular (MIC) is a global telecommunications investor with cellular operations in Asia, Latin America, and Africa. As of January 2006, the company had cellular operations and licences in 16 countries. At that time, the Group's cellular operations had a combined population under licence of approximately 391 million people.
MIC was formed in December 1990, when cellular telephone properties owned by Kinnevik and Millicom Inc were combined. Prior to December 31, 1993, the company was an affiliate of Millicom, which owned around 49% of the common stock of the company. On December 31, 1993, Millicom was merged into MIC-USA Inc, a wholly-owned subsidiary of MIC.
MIC's principal shareholder is Investment AB Kinnevik and subsidiaries. Kinnevik is a Swedish holding company with interests in telecommunications, media, publishing and paper industries. As of December 31, 2004, Kinnevik owned approximately 35.6% of MIC. In June 2005, Kinnevik announced that it had disposed of its convertible bonds in MIC for the amount of SKr219 million and acquired 1,616,940 shares in MIC for the same amount. Following completion of the transaction, Kinnevik, along with its subsidiaries, held 36,759,475 shares in MIC, representing 37.2 % of the company's capital and votes.
In January 2006, the board of directors of Millicom International SA decided to request the de-listing of Millicom's equity shares from the Luxembourg Stock Exchange (Bourse de Luxembourg) due to the fact that the trading of the shares on the exchange was insufficiently liquid. The shares will continue to be listed on NASDAQ (trading symbol: MICC) and on the Stockholm Stock Exchange (OMX Stockholm) in the form of Swedish Depositary Receipts.
As of December 2004, MIC had a 6.08% interest in Tele2 AB, which offers fixed and mobile telephony, data network, and Internet ervices in approximately 24 countries. (Tele2 AB is covered separately by the Network Operators Worldwide (NOW) service.)
