Millicom contemplates asset sale.(ACROSS THE REGION)(Millicom International Cellular)

Latin America Telecom, January, 2006

European mobile holding company Millicom International Cellular has entered a process of due diligence to contemplate selling its operations worldwide, the company said in a statement.

"Following the recent receipt of a high number of unsolicited approaches, the board has decided to conduct a review of strategic options for the company and has appointed Morgan Stanley as financial advisor," the company said.

The company clarified that it is "confident" of its strategy and growth prospects and added that the outcome of the review "may not lead to any transaction."

Millicom's Latin American operators are Telecel Paraguay, Telecel Bolivia, Comcel in Guatemala, Celtel in Honduras, and Telemovil in El Salvador.

Spanish telco Telefonica...

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