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Millicom Exits Iran To Focus On Lucrative African Markets

October 2006 | Company Finance Alert

Millicom International, the Luxembourg-based mobile holding company is to pull out of the Iranian telecoms market, after stating that it had been unable to make any progress towards resolving its interconnection issues, which had prevented the company from seeing returns on its investments. Millicom, which has a management contract alongside Rafsanjan Industrial Complex (RIC) operates mobile brand Taliya, and has been offering services in the capital Tehran since May 2005. Taliya is one of two regional mobile operators in the country, competing alongside LibanCell-owned Payam Kish, which offers mobile services on Kish Island.

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