Annual report and accounts 2008

Notes contents

Notes to the consolidated financial statements
As of December 31, 2008, 2007 and 2006

29.Related party transactions

Kinnevik

The Company's principal shareholder is Investment AB Kinnevik ("Kinnevik") and subsidiaries. Kinnevik is a Swedish holding company with interests in the telecommunications, media, publishing paper industries and financial services. As of December 31, 2008, Kinnevik owned approximately 35% of Millicom (2007: 37%).

During 2008 and 2007, Kinnevik did not purchase any Millicom shares.

Services purchased and sold to related companies

For the year ended December 31, 2008 the Group made purchases for an amount of $3 million (2007: $4 million; 2006: $5 million) and had outstanding balances as at December 31, 2008 of $1 million (as at December 31, 2007: $1 million) with related parties. These related parties are companies where Kinnevik is the principal shareholder. The services purchased and supplied covered fraud detection, network and IT support, acquisition of assets and customer care systems. These purchases were made on an arm’s length basis.

There were no sales to related companies. As of December 31, 2008 and 2007, Millicom had no receivables from related parties.