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 that its CEO, Mauricio Ramos, will present at the 2022 Morgan Stanley European Technology, Media & Telecom Conference on November 16, 2022. The live event will commence at approximately 1:10 pm local time in Barcelona, coinciding with 7:10 am in Miami and 1:10 pm in Stockholm. Interested stakeholders can access a live webcast and replay via Millicom's investor page. Millicom serves over 45 million customers in Latin America, providing mobile and fixed telecommunication services.
Millicom (TIGO) announced a Tender Offer by its Paraguayan subsidiary, Telecel, to purchase up to U.S. $55 million in 5.875% Senior Notes due 2027. The offer commenced on November 4, 2022, with a goal to reduce consolidated debt. Key dates include an early tender deadline on November 18, 2022, and final expiration on December 5, 2022. Each noteholder could receive a total consideration of U.S. $927.50 per U.S. $1,000 principal amount of notes tendered, subject to certain conditions and maximum amounts.
Millicom (TIGO) announces a Tender Offer from Tigo Guatemala for up to U.S. $90 million of its 5.125% senior notes due 2032. The offer, beginning on November 4, 2022, aims to reduce Millicom’s debt. Key dates include an Early Tender Time of November 18, 2022, and expiration on December 5, 2022. Notes validly tendered by the Early Tender Time will receive a total consideration of U.S. $822.50 per U.S. $1,000 principal.
Millicom (TIGO) announced the filing of a standard form for notification of major holdings with the CSSF on November 3, 2022. This regulatory filing is associated with the ownership stakes held by major shareholders and is essential for investor transparency. The public document is available for review, providing insights into the company's shareholder structure and potential impacts on stock performance.
Millicom (Tigo) has formed a Nomination Committee in preparation for the 2023 Annual General Meeting, following a resolution from the 2022 AGM held on May 4, 2022. This committee includes representatives from major shareholders: Jan Dworsky from Swedbank Robur Funds, Viktor Kockberg from Nordea Investment Funds, Staley Cates from Southeastern Asset Management, and Gerardo Zamorano from Brandes Investment Partners, along with Chairman José Antonio Ríos García. Shareholders can propose candidates for the Board in writing.
Millicom (TIGO) has reported solid third-quarter results for 2022, achieving positive organic service revenue growth across most markets despite a challenging economic backdrop. The company anticipates organic OCF growth of around 10% for the year, with equity free cash flow projected between $150 million and $200 million. The CEO underlined the strength of the company’s networks and brand, attributing growth to strategic investments and price increases to counter inflation. Overall, Millicom remains committed to sustainable shareholder value in the long term.
Millicom (Tigo) is now part of the Alliance for Creativity and Entertainment (ACE), marking a significant step in its fight against piracy in Latin America. Tigo is the first Latin American telecommunications firm to join this global coalition, which has 40 members. Piracy is a major issue, costing the region an estimated $4.8 billion annually. Tigo's membership aims to strengthen efforts against piracy, fostering collaboration with local authorities to protect creative content. This development not only enhances Tigo's corporate responsibility but also positions it strategically in the digital ecosystem.
Millicom (Tigo) announces its Second Congress of Maestr@s Conectad@s on October 10th and 11th, 2022, a free virtual event aimed at enhancing digital skills among teachers in Latin America. Expected to attract over 50,000 teachers, the congress will feature 16 international education experts discussing pressing educational challenges and technology integration. Since the program's inception in 2020, Millicom has trained over 250,000 teachers. This initiative is central to Millicom's ESG strategy focusing on inclusion and digital literacy.
Millicom plans to announce its third quarter 2022 results on October 27, 2022, at 12:00 (Stockholm) / 11:00 (London) / 06:00 (Miami) via press release.
The company will also host a video conference for the global financial community at 14:00 (Stockholm) / 13:00 (London) / 08:00 (Miami) on the same day. Registration is required for participation.
As of June 30, 2022, Millicom served around 50 million customers across Latin America, employing approximately 20,000 people and providing a fiber-cable service footprint to nearly 13 million homes.
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