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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 (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.
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.
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