Etisalat to buy Millicom's Sri Lanka ops

Luxembourg-based Millicom said Friday it had agreed to sell its Sri Lankan mobile operations to Emirates Telecommunications for 155 million dollars, completing a divestment programme.

Millicom International Cellular said the sale of its Sri Lankan cellular operations, the country's third-largest, to Emirates Telecommunications Corp, or Etisalat, was expected to be completed by October 20.

"We are very pleased to have agreed to sell our Sri Lanka operations to Etisalat," Millicom CEO Mikaek Grahne said in a statement posted on Millicom's website.