STOCKHOLM--(BUSINESS WIRE)--Millicom (NASDAQ:MICC) (STO:MIC) today announced that it has reported to law enforcement authorities in the United States and Sweden potential improper payments made on behalf of the company’s joint venture in Guatemala.
A Special Committee of the Board of Directors made the decision in connection with an independent investigation being overseen by the Special Committee and conducted by international law firm Covington & Burling LLP, with the support of Millicom’s management team.
Millicom is committed to fully cooperating with the authorities. It is not possible at this time to predict the matter's likely duration or outcome.
Millicom is committed to the highest ethical business standards and to full compliance with all applicable laws and regulations in every market in which the company operates.
Millicom is a leading telecom and media company dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing innovative and customer-centric digital lifestyle services to the world’s emerging markets. The Millicom Group employs more than 16,000 people and provides mobile services to over 59 million customers. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2014, Millicom generated revenue of USD 6.4 billion and EBITDA of USD 2.1 billion.
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