Welcome to our dedicated page for Millicom International Cellular S.A. news (Ticker: TIGO), a resource for investors and traders seeking the latest updates and insights on Millicom International Cellular S.A. stock.
Millicom International Cellular S.A. (TIGO) is a prominent telecommunications company based in Luxembourg, specializing in providing fixed line and mobile services. Operating under the Tigo brand, Millicom has a significant presence in emerging markets across Latin America. The company delivers a range of telecom services including wireless and fixed-line solutions in countries such as Bolivia, Nicaragua, Panama, El Salvador, Guatemala, Paraguay, Colombia, Costa Rica, and Honduras. Notably, Millicom owns 100% of its operations in most of these countries, with a 50% stake in Colombia and 67% in Honduras.
Millicom's robust infrastructure supports comprehensive telecommunications services for millions. Its fixed-line networks reach approximately 13 million homes, while its wireless networks cover about 120 million people. The company is known for providing converged packages that can include fixed-line phone services, broadband, and pay television, along with its wireless offerings. This integrated approach allows Millicom to meet diverse consumer needs in less developed regions.
In 2024, Millicom plans to carve out its infrastructure assets and mobile financial services business, aiming to optimize its operations and enhance shareholder value. The company's focus on emerging markets and its strategic initiatives reflect its commitment to growth and adaptation in a rapidly evolving industry.
Recent developments include a share repurchase activity, which indicates the company’s confidence in its financial health and future prospects. This move is expected to provide value to shareholders and demonstrates Millicom’s proactive approach to managing its equity base.
Millicom’s financial performance and strategic initiatives are continually tracked and updated through various channels, ensuring stakeholders have access to the latest information on the company’s performance and market activities.
Millicom (Tigo) has announced updates to its ongoing share repurchase program. Due to Swedish regulatory requirements, the company will not repurchase Swedish Depositary Receipts (SDRs) or Millicom U.S. Shares at prices exceeding USD 25.75 or its SEK equivalent until March 2, 2025. This price ceiling corresponds to the increased offer price previously made by Atlas Luxco S.à r.l in its public takeover offer for Millicom's SDRs and U.S. Shares earlier this year.
Millicom (Tigo) has executed share repurchases of 400,689 Swedish Depository Receipts (SDRs) between December 9-13, 2024, as part of its repurchase program announced on November 29, 2024. The daily purchases ranged from 14,689 to 100,000 SDRs, with prices varying between SEK 270.24 and SEK 279.87 per share. The total investment across the five trading days amounted to approximately SEK 109.9 million.
All transactions were executed on Nasdaq Stockholm by Citigroup Global Markets Following these purchases, Millicom now holds 1,269,640 treasury shares, with the total number of outstanding shares standing at 172,096,305. The program complies with MAR Article 5 and Safe Harbour Regulation.
Millicom (TIGO) has announced key updates regarding its $1.00 per share interim dividend payment and planned delisting from Nasdaq Stockholm. The dividend will be paid on January 10, 2025, to shareholders registered by January 3, 2025. SDR holders will receive payment in SEK, while U.S. shareholders will be paid in USD.
The company plans to delist its SDRs from Nasdaq Stockholm, with the expected last trading day around March 17, 2025. SDR holders must convert their holdings to Millicom U.S. Shares before the delisting date to remain shareholders. Conversions will be processed in eight weekly tranches starting January 20, 2025. Millicom will cover conversion fees charged by SEB and Broadridge during this period.
Millicom (Tigo) has completed a series of share repurchases between December 2-6, 2024, acquiring 277,905 Swedish Depository Receipts (SDRs). The purchases were executed on Nasdaq Stockholm by Citigroup Global Markets , with daily prices ranging from SEK 270.44 to SEK 282.85. The largest single-day purchase was 92,000 SDRs on December 2, while the smallest was 20,097 SDRs on December 5.
Following these transactions, Millicom now holds 868,951 treasury shares out of a total of 172,096,305 outstanding shares. The repurchase program was initially announced on November 29, 2024, and all transactions were conducted on Nasdaq Stockholm.
Millicom (TIGO) announced three major corporate actions: delisting Swedish Depositary Receipts (SDRs) from Nasdaq Stockholm to consolidate listing on NASDAQ U.S., implementing a $150 million Share Repurchase Program, and resuming shareholder remuneration. The company plans to delist SDRs no earlier than February 2025, aiming to improve liquidity and attract Latin America-focused investors. The Board approved an interim dividend of $1.00 per share (approximately $172 million), expected to be paid around January 10, 2025. These decisions are supported by strong 2024 financial performance and positive outlook for 2025.
Millicom (Tigo) announced that Atlas Luxco S.à r.l., a person closely associated with board member Jules Niel, acquired 40,089 Millicom Swedish Depository Receipts (SDRs) at an average price of SEK 280.4 per share on November 7, 2024. The acquisition was executed through an investment bank mandate to ensure compliance with insider trading regulations. Jules Niel, who holds no direct shares in Millicom, is part of the Niel family group that beneficially owns 40.23% of Millicom's share capital.
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.
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