Tigo Senegal dispute nears settlement
TELECOMSBy BiztechAfrica - Aug. 30, 2012, 8:51 a.m.
Millicom International Cellular has announced that it and the Republic of Senegal have reached an agreement in principle to settle amicably their dispute over the validity of Millicom’s license in Senegal.
Millicom said in a statement that this settlement is subject to the signing of final documentation between Millicom and the Republic of Senegal, as well as the publication of an amended license.
Under this agreement, the validity of Millicom’s Senegal subsidiary’s license will be recognised by both parties. In addition, Millicom will be granted a 3G license, an alignment of its license terms with those of the other operators (meaning that Millicom will receive licenses to offer fixed line, WiMAX and cable TV services for instance), some additional spectrum and a 10-year extension of the term of its current license until 2028. Millicom has agreed to pay USD103 million to the government of the Republic of Senegal for these additional license rights and spectrum. The USD103 million will be paid in several instalments between closing of the agreement and December 2013.
In conjunction with the announcement, both parties are asking for a 3-month suspension of the ongoing arbitration proceedings, initiated in 2008 before the ICSID (International Centre for Settlement of Investment Disputes), in order to finalize the documentation needed for the transaction to close.
Mikael Grahne, Millicom CEO commented: “We are delighted to have reached an agreement with the newly elected government of the Republic of Senegal in a way that will be beneficial to both parties involved, as well as to the people of Senegal and our Tigo customers. An amicable settlement has always been the preferred solution for Millicom.
This agreement will enable us to enrich our product offering in Senegal over the next 16 years with the addition of new services, including 3G mobile internet and mobile financial services that we are now offering successfully in Tanzania, Rwanda, Ghana and DRC. In Senegal, as in all our markets, we want Tigo to strive to offer innovative products and services that are relevant to our customers.”
MORE TELECOMS NEWS
Kenyans making longer calls - CAK ReportRobust marketing by telecoms and lowered call rates saw Kenyans use mobile phones more in 2013, the latest sector report shows. Read More
Telecom Namibia, XON Systems, Juniper Networks invest in network academyTelecom Namibia has set up a Telecom Namibia Juniper Networks Academy in conjunction with XON Systems and Juniper Networks to boost the training of network engineersin its training facility. Read More
Nokia X excites Ghana smartphone loversNokia Ghana has unveiled one of its new smartphone products, the Nokia X, onto the Ghanaian mobile phone market. Read More
XDSL signs agreement with DFA, Conduct for more fibreInternet Service Provider XDSL has entered into an agreement with Dark Fibre Africa (DFA) and Conduct, DFA’s last-mile fibre network subsidiary. Read More
Glo clinches two new brand awardsGlobacom won two prestigious brand awards at two separate awards ceremonies in Lagos at the weekend. Read More
Airtel Chad awarded 3G/4G licenceBharti Airtel has been awarded a 3G/4G license by the Chad Government. Read More
Samsung unveils Galaxy S5 in KenyaMobile phone maker Samsung has unveiled its latest smartphone, the Galaxy S5, in Kenya. Read More
Disruption looms in Kenyan telecomsWith the entry of three more companies in Kenya’s mobile sector, telecoms competition is expected to be stepped up a notch. Read More
Safaricom sees strong Kenyan smartphone uptakeSafaricom reports presales of over 300 Samsung Galaxy S5 units, as smartphone uptake increases in Kenya. Read More
FEATURED STORYKenyan shift to Green Economy would generate USD 45bn by 2030
Kenya’s transition to a green economy could produce major economic benefits equivalent to an estimated USD 45 billion by 2030, a new study shows.
BEST READ NEWS
IN DEPTHE-waste threatens Ghana’s beaches
Many beaches in Ghana, already stressed by pollution and poor maintenance, are now facing a new threat: e-waste.
COMPANY NEWSFurther African expansion for Phoenix
Phoenix Distribution, a leading broad-based distributor on the African continent, has expanded its office in Nairobi, Kenya, in a move to better serve its partners in East ...