Millicom Adds Nearly 963,000 Subscribers In Q1 2006 To Reach 9.9 Million Total Subscribers
2006-04-18 19:24:43 | Viewed 11531 times
Millicom International Cellular S.A. ("Millicom"), one of the world's leading cellular operators in emerging markets, has announcedthat it added nearly 963,000 subscribers through organic growth across its operations in the first quarter of 2006, bringing the total for the Group to 9,891,692 as at March 30th 2006, according to Business Wire.
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These subscriber additions represent growth of 11% in total subscribers from the previous quarter and 52% from the first quarter of 2005, on a pro forma basis. Marc Beuls, Millicom President and Chief Executive Officer said: "We have started the year very well in terms of subscriber growth, demonstrating the strength of our positions in rapidly growing emerging markets. The key growth drivers have been the launch of the Tigo brand, improved distribution networks and substantially increased capex to add extra capacity and coverage which gives us a competitive advantage. We have continued to see the highest subscriber growth in Latin America which is testament to the success of our Tigo brand. |
"This strong subscriber growth has been reflected in the top line. Underlying year-on-year pro forma revenue growth continues to accelerate and Q1 growth is stronger than the 36 per cent revenue growth seen in Q4 2005."
Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has cellular operations and licenses in 16 countries. The Group's cellular operations have a combined population under license of approximately 390 million people.
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