• Most Popular
  • Most Shared

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)



More from Reuters

Ex-wife sues SAC's Cohen, alleges insider trading

NEW YORK/BOSTON (Reuters) - Hedge fund magnate Steven A. Cohen was accused by his former wife on Wednesday of hiding millions of dollars from her and of engaging in insider trading in a high-profile merger in the 1980s.

» More Top News
An an exit sign is pictured in New York City October 14, 2006. REUTERS/Lucas Jackson
Interview:

No stimulus exit in sight

The man who predicted the fallout from the property bubble says it's still too early to talk about exiting easy money policies. In fact, more stimulus is on the way.  Full Article 

ECONOMY
The tail section of the turboprop MQ-9 Predator B drone is seen on the tarmac at Fort Huachuca, Arizona, December 5, 2006.

Just don't say the D-word

In the high-testosterone world of military jets, the words "drone" and "unmanned aerial vehicle" don't fly. Now there's a new term in town.  Full Article 

AEROSPACE & DEFENSE SUMMIT