Millicom CEO sees high capex again in 2009

STOCKHOLM, July 22 (Reuters) - The chief executive of niche telecom operator Millicom MICC.O (MICsdb.ST) said on Tuesday he expected another year of high capital spending in 2009 after the firm increased its estimate for capex this year. Millicom, which specialises in emerging markets, earlier said earnings before interest, tax, depreciation and amortisation totalled $352 million, up from $263 million a year earlier and slightly lagging a forecast for $355 million.

The company increased its estimate for 2008 capex to up to $1.5 billion from a previous prediction that it would exceed $1 billion.

Chief Executive Marc Beuls said he could not give a precise figure yet for next year. "What I can see is both Africa and Asia will continue to see very strong capex," he told an analysts' conference. He added that Latin America, with a move into 3G, would also require investment.