July 1 (Reuters) – Emerging markets telecoms firm Millicom (MICC.O) (MICsdb.ST) will take full control of its Honduras subsidiary, leading to a pro forma boost in revenues, core profit and free cash flow, it said on Thursday. Under a revised shareholders’ agreement, Millicom’s local partner has given Millicom an unconditional call option for its 33 percent stake in Celtel for the next five years.
Millicom has granted a put option to its partner for the same period in the event of a change of control of Millicom.
The deal, which will see the Honduras operations consolidated from the third quarter, will have no impact on reported net profit for Millicom.
The pro forma impact on reported figures for the year to December 2009 increases revenues by 6 percent, EBITDA by 7 percent and operating free cash flow by 9 percent.