Millicom slides after termination of bid talks
16/06/2023 08:40
** Stockholm-listed shares in Millicom TIGOsdb.ST fall
around 5% after the Luxembourg-based telecom group said on
Thursday that talks with Apollo Global Management APO.N and
Claure Group about a potential bid for the company had been
terminated
** The company, which provides telecom services in Latin
America through its TIGO brand, first announced the discussions
in January
** "Since mid February, French billionaire Xavier Niel has
been increasing his stake in Millicom to ~24%, which we believed
was a strategic investment that would pose additional hurdles
for Apollo's potential acquisition," says J.P.Morgan
** According to JPM, the now ended talks concerned an "offer
in the high teens per share" that would value Millicom at around
$10 billion
** Millicom's Stockholm-listed shares are among worst
performers on pan-European STOXX 600 .STOXX and on track for
worst day since late April
(Reporting by Greta Rosen Fondahn)
((Greta.RosenFondahn@thomsonreuters.com))