­In a brief statement, Millicom International Cellular says that it has finalized an agreement announced back in August to settle its mobile license dispute with the government of Senegal.

Under the terms of the agreement announced in August - and assuming no changes have been made since -- the validity of Millicom's Senegal subsidiary's license will be recognised by both parties.

In addition, Millicom will be granted a 3G license, an alignment of its license terms with those of the other operators (meaning that Millicom will receive licenses to offer fixed line, WiMAX and cable TV services for instance), some additional spectrum and a 10-year extension of the term of its current license until 2028.

Millicom has agreed to pay US$103 million for these additional license rights and spectrum. The US$103 million will be paid in several installments between closing of the agreement and December 2013.