Millicom terminates agreement with Wari, signs agreement to sell its Senegal business
01-08-2017 11:30:00 | by: Bob Koigi | hits: 5746 | Tags:

Cable and mobile services provider Millicom has announced that it has exercised its right to terminate its agreement to sell its Tigo operations in Senegal to Wari Group.

Separately, the company also announced that it has signed an agreement to sell its Senegal operations to a consortium consisting of NJJ, Sofima (telecom investment vehicle managed by the Axian Group) and Teyliom Group, subject to customary closing conditions and regulatory approvals.

NJJ is Xavier Niel's private holding company, incorporated in France. NJJ holds various stakes in a broad range of companies in Europe and the USA. Xavier Niel is the founder and main shareholder of Iliad, the parent company of Free in France

Axian Group is present in infrastructure and services in countries located in the Indian Ocean and Africa, including: telecommunications through Telma, Tom, TRM and Telco OI; energy through Jovenna and Edm; financial services through Bni Madagascar and Mvola; and real estate with First Immo. The Axian Group belongs to the Hiridjee family.

Teyliom is a diversified investment holding group focused on West and Central Africa and controlled by Mr Yerim Sow, its sole shareholder. It operates through five key strategic business units, Teyliom Telecom, Teyliom Properties, Teyliom Hospitality, Teyliom Finance and Teyliom Industries. Teyliom is one of the precursors of mobile telephony in Africa and has been an active player in the sector since 1996.