Parent Company's Acquisition of Millicom Operation in Pakistan

The Company's parent company China Mobile Communications Corporation announced today that it had entered into an agreement with Millicom International Cellular S.A. to purchase 88.86% of the outstanding shares of Paktel Limited, a mobile communications operator in Pakistan. The transaction implies an enterprise valuation for Paktel Limited of US$460 million. Completion of the transaction is subject to the receipt of certain regulatory approvals. If such approvals are obtained, completion is expected to occur in late February 2007.

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