POST Online Media Lite Edition



 

Senegal's Wari sues Millicom over cancelled telecoms deal

Staff Writer |
Senegalese money transfer firm Wari is suing Millicom International Cellular after Millicom cancelled a deal to sell its Senegal subsidiary Tigo to Wari.

Article continues below






Wari struck an initial agreement with Millicom in February to purchase Tigo for $129 million, but Millicom terminated the deal in July and said it would instead sell the business to a consortium that includes NJJ and Teyliom Group.

Millicom has said Wari did not provide the financing required for the deal, a charge Wari denies.

The transfer of Tigo's mobile licence to Wari was approved by a presidential decree in August and warned Millicom's shareholders that the company would need official approval to carry out the sale to the consortium.


What to read next

African Petroleum confident about oil offshore West Africa
Millicom to buy Zantel for $1
Philippines' PLDT, Globe to buy San Miguel's assets in $1.5bn deal