Kinnevik drops plan to divest its shares in Millicom
June 13 (Reuters) - Swedish investment company Kinnevik AB KINVb.ST said on Thursday it was canceling its plan to divest its shareholding in telecommunications and media company Millicom International Cellular SA TIGOsdb.ST through a public offering, due to unfavorable market conditions.
"It has become clear that unfavorable market conditions mean that the envisioned two-step divestment cannot be concluded in its current form and on terms which Kinnevik finds sufficiently attractive for its shareholders," Kinnevik said in a statement.
The company added that its amendment of its shareholder remuneration policy is revoked.
(Reporting by Rama Venkat in Bengaluru; Editing by Sandra Maler)
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