Following the expiration of the open offer period on Thursday 22, Atlas Luxco, a subsidiary of Atlas Investissement, came to control 40.4% of the share package of the mobile telephone operator Millicom, Atlas Investissement reported in a statement.

The offer valued Millicom at US$25.75 per share. The statement indicated that “In total, the offer was accepted by approximately 11.3 percent of the capital and votes.”

Atlas, owned by Xavier Niel, previously controlled around 29.2% of Millicom, which operates in the region under the Tigo brand.

An independent committee and the Board of Directors of Millicom rejected the offer because they considered that it did not take into account the true value of the operator.