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UPDATE 1-Millicom says several suitors eyeing Asian business

Thu Jul 2, 2009 2:32am EDT

Stocks

   

* Review of Asian ops progressing as planned

* Goldman Sachs appointed advisor

(Adds detail, background)

STOCKHOLM, July 2 (Reuters) - Niche telecom operator Millicom (MICC.O) (MICsdb.ST) said on Thursday the strategic review of its Asian business was going as planned and that several potential investors were eyeing the assets.

"Goldman Sachs has been appointed to advise on the process and, to date, expressions of interest have been received from a number of parties," the company said in a statement. It did not name the suitors.

The operator said earlier this year it could sell part or all of its operations in Asia, where the company runs businesses in a number of countries including Cambodia and Sri Lanka. [ID:nLL17217]

Millicom's Asian operations and joint ventures generated a net profit of $4 million in the first quarter on revenues of $68 million, the company said.

(editing by John Stonestreet)



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