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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 International Cellular has announced the distribution of 1,150 shares to one of its board members as part of non-executive director remuneration for the period from May 4, 2022, to May 2023. This distribution follows a resolution passed at the annual general meeting held on May 4, 2022. Shareholders can find more details on the company's website.
Millicom International Cellular S.A. (NASDAQ: TIGO) announced on September 19, 2022, that its Chief Information and Technology Officer, Xavier Rocoplan, acquired 57,633 shares at an average price of $12.38 each. Following this transaction, Mr. Rocoplan now owns a total of 97,974 shares in the company. This share purchase indicates insider confidence in the company's prospects and may influence investor sentiment positively.
Millicom (Tigo) has filed a standard form for notification of major holdings with the CSSF on September 20, 2022. This regulatory filing is a crucial step in maintaining transparency regarding significant shareholder positions. The attached documentation details the holdings, including a specific mention of Swedbank's funds, which have been flagged down to 4.99%. The filing reflects Millicom's ongoing commitment to regulatory compliance and investor communication.
Millicom (Tigo) announced a new mentorship program in collaboration with Glasswing International, launched at the Eighth Annual Benefit Gala in New York City. This initiative aims to support students and young professionals in Latin America, particularly through the Central American Service Corps: ‘Jovenes Lideres de Impacto’. The program will engage hundreds of Tigo mentors, offering internships, training, and job opportunities while fostering community pride. Mauricio Ramos, CEO of Millicom, emphasized the importance of mentorship for professional development.
Millicom (Tigo) announced that CEO Mauricio Ramos will present at the 2022 Goldman Sachs Communacopia + Technology Conference on September 13, 2022. The event will take place in San Francisco starting at 7:30 am local time (10:30 am Miami / 4:30 pm Stockholm).
A live webcast and replay of the presentation will be available on millicom.com/investors.
Millicom (TIGO) has released a study showing that a 10% increase in mobile broadband penetration in Latin America could generate over 6.5 million jobs and boost GDP per capita by 1.7%. The report emphasizes the need for governments to modernize regulatory frameworks and reduce spectrum costs, which are currently significantly higher than in Europe. The study underlines that improving telecommunications is crucial for the region's economic recovery post-COVID-19 and stresses that digital infrastructure is as vital as physical infrastructure for growth.
Millicom International Cellular S.A. (NASDAQ: TIGO) disclosed that on August 17, 2022, Chief Information and Technology Officer Xavier Rocoplan sold 57,633 shares in the open market at an average price of $15.70 per share. Post-sale, he holds 33,302 shares directly. This transaction reflects ongoing movements within the executive team, which may indicate personal financial decisions rather than company performance fluctuations.
Millicom (TIGO) has achieved notable recognition by securing 2nd place in the Great Place to Work® ranking for multinationals in Latin America, marking its fourth consecutive year on this prestigious list. This accolade reflects the company's commitment to diversity, equity, and inclusion among its 20,000 employees across the region. Millicom's leadership emphasized the importance of creating a supportive workplace that fosters collaboration and employee satisfaction. Earlier in 2022, TIGO also ranked 5th among the best multinationals in Central America and the Caribbean.
Millicom (Tigo) announced its Q2 2022 results, showcasing strong growth across all business units. Service revenue increased organically for four consecutive quarters, with notable performance in Colombia where service revenue rose over 8%, driven by a 20% growth in mobile revenue. The rights offering funding the Guatemala acquisition has been completed. Despite challenging macro conditions, Millicom anticipates solid cash flow for the second half of the year and reaffirms its target of around 10% organic operational cash flow growth annually.
Millicom (Tigo) announced the validation of its carbon emissions reduction targets by the Science Based Targets initiative (SBTi). Millicom is among only three telecommunications companies in Latin America to achieve this milestone. The company aims to reduce absolute scope 1 and 2 greenhouse gas emissions by 50% by 2030 and scope 3 emissions by 20% by 2035, using FY2020 as a baseline. These commitments align with the Paris Agreement goals to limit global warming. Millicom's efforts include increasing renewable energy usage, with over 16,000 MWh purchased in 2021.
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