MADRID (dpa-AFX) - Millicom International Cellular S.A. said that it has exercised its right to terminate the Share Purchase Agreement for the acquisition of Telefónica's operating subsidiary in Costa Rica.
The closing of the share purchase agreement was conditioned upon the issuance of required regulatory approvals that were agreed by the companies and set forth in the agreement, certain of which have not yet been issued.
The agreement establishes an end date of May 1, 2020, after which either party may terminate the agreement, and Millicom has exercised its right to do so.
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