June 3, 2019 / 10:19 PM / a year ago

Kinnevik intends to divest majority of its shareholding in Millicom

(Reuters) - Swedish investment company Kinnevik AB said it plans to divest its shareholding in telecommunications and media company Millicom International Cellular SA through a public offering and a distribution to Kinnevik’s shareholders.

Kinnevik will offer to divest 29% or about 11 million shares of the total 37.2% of Millicom shares it owns, the company said in a statement on Monday.

Millicom said in January talks about a possible offer for all shares of the company have been terminated by Liberty Latin America without an offer.

Reporting by Sabahatjahan Contractor in Bengaluru; editing by Diane Craft

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