China Mobile connects to Pakistan

The first cross-border acquisition by China Mobile Communications sees it value Millicom's Pakistan telecom business at $460 million. China Mobile Communications is making its first cross-border acquisition, buying Paktel in Pakistan at an enterprise value of $460 million. It will pay Millicom of Sweden - which owns 88.86% of Paktel – a cash consideration of $284 million. The deal has been concluded in almost record time since Millicom announced it in November last year. Read Full Story