Telecom Tycoon Niel Raises Bid for Millicom to $4.4 Billion
- Millicom’s independent board committee rejected earlier offer
- Niel’s Atlas will offer $25.75 per share in cash, up from $24
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Billionaire Xavier Niel raised his offer for Millicom International Cellular SA to about $4.4 billion after the Latin American phone carrier had rejected an earlier bid as too low.
Niel’s Atlas Luxco Sarl, has bid $25.75 a share in cash, up from a previous offer of $24 a share, it said in a statement Friday. Millicom’s independent board committee last month had rejected the previous deal from Atlas, which in turn responded by saying there were no new arguments for a higher price.