Millicom (Tigo) confirms discussions on a potential transaction

Rhea-AI Summary

Millicom (Tigo) has confirmed ongoing discussions regarding a potential acquisition of all outstanding shares by Apollo Global Management and Claure Group. Despite speculation, the Board of Directors cautions that there is no certainty surrounding the completion, terms, or timing of any potential deal. Millicom provides fixed and mobile telecommunications services in Latin America, reaching over 45 million customers as of December 31, 2022. The company emphasizes its commitment to transparency under the EU Market Abuse Regulation.

Positive

• Engagement in discussions for potential acquisition indicates interest from major investment groups.
• Millicom has a significant customer base with over 45 million users, which can enhance its valuation in potential negotiations.

Negative

• Uncertainty around the deal may cause volatility in stock prices.
• No guarantee of transaction completion could lead to investor skepticism.

Millicom (Tigo) confirms discussions on a potential transaction

LUXEMBOURG, January 25, 2023 – As a response to market speculation, the Board of Directors of Millicom International Cellular S.A. confirms that a potential acquisition of all outstanding shares in Millicom is being discussed with Apollo Global Management and Claure Group.

There is no certainty that a transaction will materialize nor as to the terms, timing or form of any potential transaction.

-END-

For further information, please contact:

Press: Karim Lesina, EVP Chief External Affairs Officer press@millicom.com

Investors: Michel Morin, VP Investor Relations Sarah Inmon, Director Investor Relations investors@millicom.com

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of December 31, 2022, Millicom employed approximately 20,000 people and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 13 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

Regulatory Statement

This information was prior to this release inside information and is information that Millicom is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 17:45 CET on January 25, 2023.

 

Attachment

• PR Millicom confirms discussions on a potential transaction_012523

FAQ

What potential transaction is Millicom (TIGO) discussing?

Millicom is in discussions for a potential acquisition of all outstanding shares with Apollo Global Management and Claure Group.

What did Millicom confirm in their January 25, 2023 press release?

Millicom confirmed ongoing discussions regarding a potential acquisition, responding to market speculation.

Is there any certainty regarding the Millicom acquisition talks?

There is no certainty that a transaction will materialize, nor details on terms or timing.

How many customers does Millicom serve?

As of December 31, 2022, Millicom serves over 45 million customers.

What sectors does Millicom operate in?

Millicom provides fixed and mobile telecommunications services, digital products, and financial services primarily in Latin America.