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Stock Market & Financial Investment News

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December 4, 2012
05:11 EDTMICCMillicom renews its license in Columbia for another 10 years
Millicom International Cellular renewed its license in Colombia for a further 10 years. Colombia Movil, an affiliate of Millicom, renewed its license for another 10 years; up until February 2023. In February 2013, the company will pay approximately $51M. The final consideration to be paid for the renewal and 50 MHz of spectrum in the 1900 MHz spectrum band will be determined by the "Tribunal de Arbitramiento", or Arbitrage Court, in the next 12-18 months.
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September 11, 2014
05:30 EDTMICCMillicom, Kalixa announce payments processing JV for Africa, Latin America
Millicom and Kalixa announced the establishment of a joint venture to develop a payments service provider to operate in Africa and Latin America, initially commencing in Colombia and Brazil later this year. The joint venture will offer payment acceptance services for both businesses and consumers, including payment gateway and point of sale solutions for merchants as well as 1-click payment and eWallet provision for online customers. The partnership will cover the end-to-end payment ecosystem and will offer multi-device and cross-platform services. The joint venture will benefit from Millicom’s existing reach across Africa and Latin America through its high-profile “Tigo” infrastructures in fourteen countries and its online partnerships in 31 countries. It will also draw on Kalixa’s experience of providing a full range of payment services, including issuing, acquiring and acceptance solutions to over 8,000 merchants across 100 markets. The initial phase of the joint venture will begin in H2 2014 and will provide an end-to-end service for ecommerce providers. Brazil is the largest market in Latin America with around 60% of its ecommerce by volume and 80% of the continent’s top 500 e-merchants present there. In Colombia, Millicom’s largest market in Latin America, ecommerce is growing significantly at over 60% annually with 50% of internet users enjoying online shopping.

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