6-K 1 dp04484_6k.htm

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 21, 2007

Commission File Number: 000-22828

MILLICOM INTERNATIONAL

CELLULAR S.A.

75 Route de Longwy

Box 23, L-8080 Bertrange

Grand-Duchy of Luxembourg

(Address of principal executive offices)

     Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F   X   Form 40-F       

     Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___

     Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ___

     Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

         Yes        No   X  

     If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-____________

MILLICOM INTERNATIONAL CELLULAR S.A.

INDEX TO EXHIBITS

Item
1.	Press release dated January 21, 2007

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	MILLICOM INTERNATIONAL CELLULAR S.A.
	(Registrant)
Date: January 22, 2007	By: /s/ Marc Beuls
	Name:	Marc Beuls
	Title:	President and Chief Executive Officer
	By: /s/ David Sach
	Name:	David Sach
	Title:	Chief Financial Officer

Item 1

MILLICOM INTERNATIONAL CELLULAR S.A.

FOR IMMEDIATE RELEASE
January 21, 2007

SALE OF MILLICOM OPERATION IN PAKISTAN

New York and Stockholm – January 21, 2007 - Millicom International Cellular S.A. ("Millicom") (Nasdaq Stock Market: MICC, Stockholmsbörsen: MIC), today announces that it has signed an agreement for the sale of its 88.86 per cent. shareholding in Paktel Limited to China Mobile Communications Corporation. The transaction implies an enterprise valuation for Paktel Limited of US$460 million. The total cash consideration payable to Millicom as a result of the transaction (including the repayment of intercompany debt) is approximately US$284 million. Completion of the transaction is subject to certain regulatory approvals and procedures. If such approvals are obtained, completion is expected to occur in late February 2007.

Commenting on the transaction, Marc Beuls, President and Chief Executive Officer of Millicom, said: “We are pleased to announce the sale of Paktel to China Mobile following strong interest from a number of parties during the sale process. The implied enterprise value of US$460 million for Paktel reflects fair value for the business. Completion of the transaction is dependent on regulatory approval. The sale of Paktel allows Millicom to focus on the 16 markets where we have already established strong market positions and, with penetration rates rising rapidly, the prospects in these businesses are good.”

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 17 countries. The Group’s cellular operations have a combined population under license of approximately 433 million people.

This press release may contain certain “forward-looking statements” with respect to Millicom’s expectations and plans, strategy, management’s objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that Millicom’s actual results in the future could differ materially from those anticipated in forward-looking statements depending on various important factors. Please refer to the documents that Millicom has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Millicom’s most recent annual report on Form 20-F, for a discussion of certain of these factors.

All forward-looking statements in this press release are based on information available to Millicom on the date hereof. All written or oral forward-looking statements attributable to Millicom International Cellular S.A., any Millicom International Cellular S.A members or persons acting on Millicom’s behalf are expressly qualified in their entirety by the factors referred to above. Millicom does not intend to update these forward-looking statements.

CONTACTS:
Marc Beuls		Telephone: +352 27 759 327
President and Chief Executive Officer
Millicom International Cellular S.A., Luxembourg
David Sach		Telephone: +352 27 759 327
Chief Financial Officer
Millicom International Cellular S.A., Luxembourg
Andrew Best		Telephone: +44 7798 576 378
Investor Relations
Cyrus Kapadia		Telephone: +44 20 7187 2000
Lazard
Visit our web site at: www.millicom.com