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Maroc Telecom to acquire Millicom unit Tigo Chad

Moroccan operator Maroc Telecom will acquire Millicom International Cellular SA's business in Chad, Tigo Chad, for an undisclosed sum.

The transaction, which requires approval from authorities in Chad, is part of Millicom's plan to focus on expanding its operations in Latin America, according to a March 14 statement.

Millicom agreed in February to purchase Telefónica SA's operations in Panama, Costa Rica and Nicaragua for about $1.65 billion in cash. The Luxembourg-based mobile operator recently was itself a takeover target of Liberty Latin America Ltd., but talks between the two companies were scrapped.

Maroc Telecom is majority-owned by Etisalat UAE.