Comcel de Guatemala

active

Comcel was granted a nationwide concession to provide cellular phone services in 1989. Comcel is a privately owned consortium led by Millicom International Cellular SA (55%) and Communications Celulares. The company started its commercial operations in October 1990. Comcel signed a $20 million contract with Motorola to expand its Amps network in 1995. Aggregated investment figures were not available because the company classified such information as confidential. Comcel obtained loans from ABN Amro Bank for US$ 33 million in 1995-97. Comcel competed with Telefonica, Telmex, and Bell South by 2000. In late 2003, Comcel announced plans to install, by contracting with Millicom International Cellular, a GSM 800 network in its service area. The amount of the investment was not released. The company invested US$ 40 million in network modernization and expansion in 1999. 2004 - 2006 investment generated by taking Central American telecom capital expenditure from Millicom and dividing it by respective number of customers, i.e. is a proxy of Millicom's total investment in their subsidiaries in Central America. 2007 capex is an estimatation calculated based on the information obtained in the sponsor's Annual Report. 2008 investment estimated by taking Central American telecom capital expenditure from Millicom and dividing it by number of Millicom customers in Guatemala. Data obtained from Millicom Annual Report 08.