Millicom International reports revised accounting of its Honduras transaction
Millicom International Cellular said it is restating its full-year financial statements for 2010 as well as its interim quarterly financial statements for the periods ended September 30, 2010 to September 30, 2011 to reflect a revised accounting treatment of the put option provided to its local partner in Honduras.
The company also added that the amended accounting treatment of the put option and consequent restatements have no effect on reported revenues, operating cash flow, dividends and outlook.
Following a reassessment of the accounting treatment of the Honduras transaction, the company has retroactively recorded a liability for the put option at July 1, 2010 of $737.4 million.
Original source: RTT News