TO CONSOLIDATE ITS LISTING ON NASDAQ OMX STOCKHOLM New York and Stockholm, 19 April 2011 -- Millicom International Cellular S.A. (“Millicom” or “the Company”) (NASDAQ: MICC and NASDAQ OMX Stockholm: MIC) today announced that it intends to consolidate the listing of its shares onto one single exchange, NASDAQ OMX Stockholm. The Company will maintain the current listing of its shares as Swedish Depository Receipts (“SDRs”) on NASDAQ OMX Stockholm, which will become Millicom's primary listing. Millicom, therefore, intends to voluntarily delist its ordinary shares from NASDAQ in the United States. Existing shareholders on NASDAQ will be able to convert their Millicom shares into SDRs listed on NASDAQ OMX Stockholm or alternatively maintain their holdings of Millicom ordinary shares. “In today's increasingly globalized trading environment, equity investors can access any international stock, regardless of where it is listed, making it unnecessary for Millicom to maintain its dual listing,” said Mikael Grahne, President and CEO of Millicom. “The requirements of maintaining a U.S. listing also place significant demands on the Company, particularly in terms of the time commitment expected of our management team and Board of Directors. With a single listing on NASDAQ OMX Stockholm, we will be able to focus even further on developing the business, while maintaining the same high standards of reporting and governance.” With the primary listing in Stockholm, Millicom will be subject to NASDAQ OMX Stockholm's listing rules and reporting requirements and the high standards of corporate governance prevalent in Sweden. The U.S. delisting will not change the way that Millicom communicates with shareholders, and the Company remains committed to maintaining the same levels of transparency and accountability. The Company will provide investors with timely updates, including quarterly reporting and earnings calls, and it will host regular investor relations activities and investor roadshows in both Europe and in the United States, consistent with what the Company has done to date. Millicom's strategy, its underlying operations and its ability to grow the business, as evidenced by the strong Q1 results announced today, will not change as a result of the Company consolidating its listing onto a single exchange. For additional information on the Company's first quarter 2011 performance, please refer to the quarterly earnings report also filed today and available online at http://www.millicom.com/investors/investors.cfm (http://www.millicom.com /investors/investors.cfm). Grahne added, “Millicom has listed SDRs on NASDAQ OMX Stockholm since 2004, so we are comfortable with the platform and feel confident that the continued trading of our SDRs will provide the appropriate levels of liquidity to our shareholders and appropriate access to capital for Millicom.” Millicom has notified NASDAQ of its intention to delist and currently anticipates that it will file a Form 25 relating to the delisting of its ordinary shares with the U.S. Securities and Exchange Commission on or around May 20, 2011. As a result, Millicom expects that the last day of trading of its ordinary shares on NASDAQ in the U.S. will be no earlier than May 27, 2011. The Company will continue to comply with its SEC reporting obligations until such obligations may be terminated by the deregistration of the Company. The Company has not arranged for a listing on any other United States exchange or for quotation of its ordinary shares in any quotation medium. Investors are encouraged to convert Millicom's ordinary shares into SDRs, which are listed on NASDAQ OMX Stockholm and which have the same fundamental economic and voting rights as ordinary shares. Details of the SDR conversion mechanism will be communicated to shareholders, together with further information and frequently asked questions, via Millicom's website at http://www.millicom.com/investors/investors.cfm (http://www.millicom.com /investors/investors.cfm). The change to a primary listing on NASDAQ OMX Stockholm is intended to be effected upon the U.S. delisting, no earlier than May 30, 2011. CONTACTS Millicom International Cellular S.A. François-Xavier Roger Telephone: +352 27 759 327 Chief Financial Officer Emily Hunt Telephone: +44 7779 018 539 Investor Relations Brunswick Group Stockholm: Annette Brodin-Rampe / Birgitta Henriksson Telephone: +46 8 410 32 180 New York: Gemma Hart / Radina Russell Telephone: +1 212 333 3810 London: Tom Buchanan Telephone: +44 20 7404 5959 Millicom International Cellular S.A., Luxembourg Visit our web site at http://www.millicom.com (http://www.millicom.com/)
TO CONSOLIDATE ITS LISTING ON NASDAQ OMX STOCKHOLM
| Source: Millicom International Cellular S.A.
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