Investment AB Kinnevik ("Kinnevik") supports the decision today by the Board of Directors of Millicom International Cellular ("Millicom"), the emerging market mobile telecommunications group, to complete its strategic review and terminate all discussions concerning a potential sale of the company.
Since May, Millicom has been in prolonged discussions and due diligence with one potential purchaser but has now concluded that this purchaser will not be in a position within an acceptable timeframe to make a binding offer that is suitably attractive, given the current strong performance of the business, or sufficiently certain of closing. Kinnevik remains confident in the future of Millicom.
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Vigo Carlund, President & CEO |
+46 (0) 8 562 000 00 |
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Henrik Persson, Investor Relations |
+46 (0) 8 562 000 87 |
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+46 (0) 707 62 00 87 |
Investment AB Kinnevik is an investment company. The Company's objective is to increase shareholder value, primarily through net asset value growth. The Group consists of the Parent Company Investment AB Kinnevik and a number of operating subsidiaries. The Parent Company manages a portfolio of long-term investments in a number of listed companies such as Tele2, Modern Times Group MTG, Millicom International Cellular, Metro International and Transcom WorldWide. Kinnevik plays an active role on the Boards of its subsidiaries and associated companies.
The Group's subsidiaries are principally active in farming through Mellersta Sveriges Lantbruk, cartonboard and paper production through Korsnäs, and banking, insurance, securities broking and trading, and asset management through Invik & Co.
Kinnevik's 'A' and 'B' shares are traded on the Stockholmsbörsen 'O-list' with the ticker codes 'KINVA' and 'KINVB'.