Millicom to sell Cambodian operations

(AP) NEW YORK - Luxembourg-based wireless service provider Millicom International Cellular SA said Tuesday it agreed to sell its Cambodian operations to the Royal Group, its partner in Cambodia, for $346 million.

This transaction comprises Millicom’s 58.4 percent holdings in CamGSM, Royal Telecam International and Cambodia Broadcasting Services, the company said.

The deal is expected to close before the end of the year.

Millicom provides cell phone service in developing regions in Asia, Africa and Latin America that have limited wireline infrastructure.

(Copyright 2009 by The Associated Press. All Rights Reserved.)