Millicom International Cellular S.A. - TIGO STOCK NEWS

Millicom International Cellular (Tigo) announced that Director Tomas Eliasson has sold his entire stake of 17,269 Swedish Depository Receipts (SDRs) on November 8, 2024. The transaction was executed at an average price of SEK 289.19 per share in the open market. Following this sale, Mr. Eliasson no longer holds any shares in the company.

Millicom (Tigo) reported strong Q3 2024 results with revenue reaching $1.43 billion, up 0.5%, and service revenue increasing 1.8%. The company showed robust commercial growth with 299,000 Postpaid Mobile and 68,000 Home FTTH/HFC net additions. Operating profit rose 43.1% to $300 million, while EBITDA grew 9.8% to $585 million. Net income reached $51 million ($0.30 per share), and equity free cash flow significantly improved to $271 million from $100 million in Q3 2023. The company has upgraded its 2024 EFCF target to around $650 million, up from the previous target of $600 million.

Millicom (TIGO) has entered into an agreement with SBA Communications for a sale and leaseback of approximately 7,000 towers across Guatemala, Honduras, Panama, El Salvador and Nicaragua for $975 million, plus performance-based earn-outs. The deal includes a build-to-suit agreement for up to 2,500 additional sites. The transaction, expected to close in mid-2025, aims to optimize operational and capital efficiency while maintaining Millicom's position as the leading mobile network operator in Central America. The deal will make SBA Communications the leading tower company across Central America.

Millicom (Tigo) has announced it will release its third quarter 2024 results on November 7, 2024, followed by a video conference for the global financial community at 15:00 Stockholm time / 14:00 London time / 09:00 Miami time. The interactive event requires pre-registration, and participants wishing to ask questions must notify the Investor Relations team via email after the event begins. A listen-only option is available via dial-in numbers for multiple countries. Presentation slides and event replay will be available on Millicom's investor website.

Millicom (Tigo) has announced its intention to redeem in full its 6.625% Senior Unsecured Notes due 2026 on October 28, 2024. The redemption will cover the entire outstanding amount of $147,855,600. According to the terms of the indenture governing the Notes, the redemption price will be 100% of the principal amount, plus accrued and unpaid interest and Additional Amounts (if any) up to, but not including, the Redemption Date.

The company will send a notice of redemption to the holders of the Notes as required by the indenture. Millicom clarifies that this announcement does not constitute an offer to sell or a solicitation of an offer to buy any security, nor does it serve as a formal notice of redemption under the Indenture.

Millicom International Cellular S.A., operating under the brand name Tigo, has announced the filing of standard forms for notification of major holdings with the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg on October 17, 2024. This regulatory filing includes two attachments detailing the major holdings notification. The company has not provided any additional information about the nature or specifics of these major holdings in the press release.

Millicom International Cellular S.A., operating under the brand Tigo, has announced the filing of a standard form for notification of major holdings with the CSSF (Commission de Surveillance du Secteur Financier) on October 15, 2024. This regulatory filing is a standard procedure for companies to disclose significant changes in shareholding structure. The announcement was made from Luxembourg, where Millicom is headquartered.

The company has not provided any specific details about the nature of the major holdings being reported. For further information, interested parties are directed to contact Sofía Corral, Director of Corporate Communications, for press inquiries, or Michel Morin, VP of Investor Relations, for investor-related questions.

Millicom (NASDAQ: TIGO) announced changes to its Board of Directors on September 24, 2024. Thomas Reynaud and Aude Durand have stepped down from their roles as board members, effective immediately. The Board, maintaining its composition of eight directors, has unanimously appointed Jules Niel and Pierre-Emmanuel Durand as interim members until the next annual general meeting.

Reynaud and Durand's departure coincides with changes in Millicom's leadership and governance, as well as their increased commitments to Iliad group companies. The Board expressed gratitude for their contributions over the past 18 months, during which Millicom achieved significant improvements in its results.

Jules Niel, born in 2000, is an Investment Associate at NJJ Telecom Europe, while Pierre-Emmanuel Durand, born in 1990, serves as an Investment Director at NJJ Telecom Europe and Atlas Investissement. A Nominations Committee will be formed to propose new board members for election at the next annual general meeting.

Millicom (TIGO) announced that Mauricio Ramos is stepping down as Chair of the Board on September 30, 2024. The Board has appointed Maxime Lombardini as Interim Chair. Ramos joined Millicom in 2015 as CEO, became a Board member in 2020, and was appointed Executive Chair in September 2023.

Under Ramos' leadership, Millicom transformed into a leading telecom provider in Latin America, developing a strong corporate culture and executing a successful M&A strategy. Key achievements include exiting 6 African countries, acquiring Cable Onda in Panama, and consolidating ownership of its Guatemalan subsidiary.

Lombardini, who has been COO and President since September 2023, will step down from these roles to assume the position of Interim Non-Executive Chair. A Nominations Committee will propose a new Chair for election at the next annual general meeting.