Tele Targets

Sri Dharanee Performance Arts Theatre

July 7, 2009 (LBO) – Axiata, the parent of Dialog Telekom may offer 200 million US dollars for the Sri Lanka unit of Millicom International Cellullar, a media report said. Bloomberg news citing two people with knowledge on the deal said Millicom’s Cambodia operations may be offered 500 million US dollars.

Bloomberg quoted Millicom chief financial officer Francois-Xavier Roger as saying that the group is considering selling Sri Lanka operations together or separately with Cambodia and Laos.

Axiata had declined to confirm or deny the talks, but said “in-country consolidation is of strategic importance in some of our markets,” Bloomberg said.

Axiata’s Dialog is Sri Lanka’s top mobile firm with more that half the market.

Millicom said last week it had received several expressions of interest its for Asian operations.

Goldman Sachs, an investment bank, is handling the sale.