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Millicom International Cellular: Merger in Colombia completes to provide a new era of digital choice

Stockholm, 14 August, 2014 - Millicom (Stockholmsbörsen: MIC), the
international telecommunications and media company, announced today
the completion of the merger of its Tigo mobile business with the
cable and fixed line operator UNE, owned by Empresas Públicas de
Medellín (EPM).

The merger of the two operations will:

· create a business offering a comprehensive range of bundled
digital services to millions of households including mobile and fixed
telephony, mobile and fixed products

· exploit the complementary offerings of Tigo with UNE and its
affiliates and

· execute a key component of Millicom's strategy to double revenue
by 2017 and increase its profitability.

The Board of the new company comprises four Non-Executive Directors
from Millicom and three from EPM. There will be a meeting of the new
Board later today after which it will announce the appointment of the
company's officers and management.

The combined company will generate more than $2bn annual revenue and
have over eight million customers.

Commenting on the completion of the merger today, Millicom President &
CEO, Hans-Holger Albrecht said:

"I am delighted that we have been able to conclude the merger with our
colleagues at EPM and UNE and thank everyone involved in its
successful conclusion. Together, we are creating a strong and
exciting telecommunications and media business which will provide a
full range of digital services and a new choice for the people of
Colombia. But now it's time for the hard work as we start the
integration process. So I wish all our current and new colleagues
well as they work to bring to Colombia's consumers the benefits of a
strong new competitor."

The Growing Colombian Economy

The merger takes place during a continuing period of strong economic
growth, with Colombia's GDP rising by 6.4% in the first quarter and
twelve-month growth forecast by the IMF to be 4.5% in 2014.
Medellin, the home city of UNE, was named by the Urban Land Institute
and the Wall Street Journal as the "Most Innovative City" in the
world in 2013 ahead of New York and Tel-Aviv.

Millicom confirmed that its group net debt will increase by a total
consideration of around $1.3 billion and the newly-combined company
will be fully consolidated from today.

Millicom will give an update on the merger at its Capital Markets Day
in Miami on Wednesday 24 September.

For more please visit: or contact:

Press Enquiries:
Julian Eccles, VP, Corporate Communications on +44 7720 409374 or
Carolina Corsello on +46707597452;

Investor Enquiries:
Nicolas Didio, Director of Investor Relations on +44 203 249 2220;

About Millicom

Millicom is a leading international telecommunications and media
company dedicated to emerging markets in Latin America and Africa.
Millicom sets the pace in providing digital lifestyle services giving
access to the world. Operating in fourteen countries, primarily using
the Tigo brand, Millicom offers innovative and customer-centric
products. Millicom employs more than 10,000 people and provides
mobile, cable, broadband, TV content, online and financial services
to over 50 million customers. Founded in 1990, Millicom is
headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under
the symbol MIC. In 2013 Millicom generated revenue of $5.16 billion
and EBITDA of $1.9 billion.


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