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Forget about charging by the minute for phone calls. Millicom International charges by the second.
The business model’s not as rapaciously capitalist as you’d think, though. Millicomm’s [MICC
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] trying to make calls more affordable for its customers in the developing world.
The Luxembourg-based firm is building cell towers across Asia, Africa and Latin America, areas of the world that are skipping landlines and going straight to mobile. The strategy’s helping Millicom beat Verizon Communications [VZ
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], Sprint [S
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] and AT&T [T
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] to hundreds of millions of potential customers overseas.
The fundamentals Cramer loves so much are here too. Subscribers, sales and growth were all up in 2007. Millicom announced a special dividend of $2.40 per share to boot.
Telco in the developing world will be the theme on Mad Money all week. Keep checking back to get his other exclusive picks. In the mean time, watch the video for his full take on Millicom.
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