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Notes contents
Notes to the consolidated financial statements
Notes to the consolidated financial statements
As of December 31, 2008, 2007 and 2006
8.Interests in joint ventures
The Group has the following significant joint venture companies, which are proportionally consolidated:
| Name of the company | Country | Holding December 31, 2008 |
Holding December 31, 2007 |
|---|---|---|---|
| % of ownership interest | % of ownership interest | ||
| Central America | |||
| Comunicaciones Celulares S.A. | Guatemala | 55.0 | 55.0 |
| Telefonica Celular S.A. | Honduras | 66.7 | 66.7 |
| Africa | |||
| Emtel Limited | Mauritius | 50.0 | 50.0 |
| Asia | |||
| Cam GSM Company Limited | Cambodia | 58.4 | 58.4 |
The share of assets and liabilities of the jointly controlled entities at December 31, 2008 and 2007, which are included in the consolidated financial statements, are as follows:
| 2008 | 2007 | |
| US$ '000 | US$ '000 | |
| Current assets | 194,994 | 184,202 |
| Non-current assets | 644,550 | 489,301 |
| Total assets | 839,544 | 673,503 |
| Current liabilities | 282,492 | 263,876 |
| Non-current liabilities | 112,116 | 96,207 |
| Total liabilities | 394,608 | 360,083 |
The share of revenues and operating expenses of the jointly controlled entities for the years ended December 31, 2008, 2007 and 2006, which are included in the consolidated financial statements, are as follows:
| 2008 | 2007 | 2006 | |
| US$ '000 | US$ '000 | US$ '000 | |
| Revenues | 1,130,702 | 901,564 | 625,544 |
| Total operating expenses | (617,121) | (483,430) | (365,826) |
| Operating profit | 513,581 | 418,134 | 259,718 |
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