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 partnered with ETB to enhance its broadband services in Bogota, Colombia. This FTTH wholesale network agreement will allow Tigo Colombia to deliver Tigo-branded broadband internet, PayTV, and telephony services to customers using ETB's network, reaching 1.5 million homes. This partnership expands Tigo's commercial footprint by over 20%, significantly increasing access to potential customers in the region, the largest city in Colombia.
Millicom (TIGO) has announced a significant wholesale network agreement with Ufinet in Bogota. This partnership enables Tigo Colombia to utilize Ufinet's fiber-to-the-home (FTTH) infrastructure to provide broadband internet, PayTV, and telephony services. With current coverage of 250,000 homes expected to expand to 320,000 by year's end, this development aims to enhance Tigo's digital connectivity services while maintaining capital efficiency.
Millicom (TIGO) will announce its second quarter 2022 results on July 28, 2022, at 12:00 (Stockholm) / 11:00 (London) / 06:00 (Miami). A video conference for the financial community will follow at 14:00 (Stockholm) / 13:00 (London) / 08:00 (Miami).
Participants must register for the event to join. The conference will include a Q&A session, where participants can ask questions via email during the live event. A replay and slides will be made available on the Millicom investor website.
Millicom (TIGO) announced the successful exercise of rights by its Directors and Executives as part of its rights offering dated May 18, 2022. During the subscription period from May 27 to June 13, 2022, they exercised 526,140 rights, achieving an impressive 98% subscription rate. This resulted in acquiring 368,298 new shares. Additionally, Millicom's Directors oversubscribed amounting to 4,500 shares. This activity reflects strong support from leadership in enhancing shareholder value.
Millicom (TIGO) has successfully completed its rights offering, issuing a total of 70,357,088 shares. This includes 69,318,977 new shares issued on June 17, 2022, resulting in a capital increase of USD 103,978,465.50. Additionally, on June 28, 2022, 1,038,111 new shares were issued, contributing an extra USD 1,557,166.50 to the share capital. Post-offering, Millicom’s total issued share capital stands at USD 258,144,457.50, represented by 172,096,305 shares with a par value of USD 1.50 each.
Millicom has successfully completed the acquisition of the remaining 20% stake in Tigo Panama, raising its ownership to 100%. This acquisition reflects an exercise of the founders’ liquidity option as outlined in the 2018 Shareholders’ Agreement. With this deal finalized on June 29, 2022, Millicom solidifies its position as the leading telecommunications provider in Panama. The company aims to enhance its service offerings across various digital platforms, benefiting its substantial customer base.
Millicom (Tigo) announced the launch of a new digital platform, Maestr@s Conectad@s, aimed at enhancing digital literacy among teachers in Latin America. Initially launched in 2020, this program has successfully trained over 250,000 educators. The newly developed web-based app offers 20 free courses focused on digital tools and educational innovation, in partnership with AHYU. This initiative aligns with Millicom's commitment to ESG-based education and is crucial for bridging the digital divide in educational systems impacted by the COVID-19 pandemic.
Millicom (TIGO) announced that its recent rights offering was fully subscribed, raising approximately $746 million. On May 18, 2022, the Board resolved to conduct this offering, which saw the subscription of 68,822,675 shares through basic rights. An additional 1,534,413 shares were allotted via oversubscription. The funds will primarily repay a $350 million bridge loan related to Tigo Guatemala's acquisition, with excess proceeds for general corporate purposes. The rights offering's success reflects strong market interest.
Millicom International Cellular S.A. announced a rights offering on May 18, 2022, with management support for full participation, except for one executive. On June 1, 2022, this executive sold 11,000 rights and subscribed for 43,233 rights to acquire additional shares. Millicom operates in the telecommunications sector, providing fixed and mobile services in Latin America, with a customer base of around 50 million and a fiber-cable footprint covering close to 13 million homes. The company continues to enhance its digital service offerings.
Millicom has announced a rights offering aimed at raising approximately $746 million to strengthen its balance sheet and repay a bridge loan of $2.15 billion. This follows a recent acquisition of a 100% equity stake in Tigo Guatemala for $2.2 billion. The offering will allow existing shareholders to subscribe for up to 70.4 million new shares, potentially increasing dilution for non-participating shareholders by about 70%. The subscription price is set at SEK 106 per SDR and $10.61 per new share, with subscription running from May 27 to June 13, 2022.
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