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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) has announced the distribution of 40,017 shares to its Board of Directors as part of the remuneration for non-executive directors. This decision follows a resolution by shareholders during the annual general meeting on May 4, 2022. The shares are intended for the period from the 2022 AGM to the 2023 AGM, scheduled for May 2023. Details on the share distribution can be found on Millicom's official website.
Millicom (Tigo) has announced a new record date of May 23, 2022, for its rights offering, applicable for holders of common shares and Swedish Depositary Receipts (SDRs). The conversion between common shares and SDRs will be halted from May 9 to June 13, 2022, during which eligible holders must be aware of the conversion restrictions. Further details regarding the rights offering will be shared prior to its commencement. This announcement does not constitute an offer to buy or sell any securities.
Millicom (TIGO) held its Annual General Meeting (AGM) on May 4, 2022, where all proposed resolutions were approved. Key outcomes include the re-election of key board members and the election of Tomas Eliasson as a new Non-Executive Director. The AGM approved the annual accounts for 2021, the allocation of a profit of USD 204.8 million, and a share repurchase plan. Ernst & Young S.A. was re-elected as the external auditor. The company continues to provide extensive telecommunications services in Latin America, serving approximately 50 million customers.
Millicom is launching a new web-based app for its Conectadas program, aimed at enhancing digital literacy and entrepreneurship among women and girls in Latin America. Since its inception in 2017, over 560,000 women have been trained. The new platform, launching on April 28, 2022, will provide easier access to educational resources, particularly for those in remote areas. Developed in collaboration with Grameen Foundation, the program includes free modules covering internet usage, personal finance, and digital tools for business.
Millicom (TIGO) has reported strong Q1 2022 results, outperforming expectations. The company added 1 million postpaid subscribers in Colombia, achieving over 50% growth. B2B services grew by approximately 5%, the highest in three years, thanks to a strategic focus on customer segmentation and digital services. Home services also showed solid performance with service revenue growth of over 5%. Millicom is optimistic about accelerated growth for the rest of the year, aiming to expand network access to 1 million new homes and developing its Fintech services.
Millicom (Tigo) has announced that the record date for its upcoming rights offering is set for May 12, 2022. The company aims to raise approximately $750 million through this offering, allowing existing shareholders to purchase common shares. The proceeds will primarily be used to repay outstanding debt from a $2.2 billion acquisition of its business in Guatemala. Additionally, the conversion between common shares and SDRs will be halted from May 9 to June 1, 2022. Further details will be provided before the offering begins.
Millicom (TIGO) has announced the schedule for its first quarter 2022 results, set to be released on April 28, 2022 at 12:00 Stockholm time. A video conference for the global financial community will follow at 14:00 Stockholm time the same day, requiring prior registration.
Millicom, a leading telecommunications provider in Latin America, is known for its diverse digital services, including TIGO Money and TIGO Sports. The company continues to serve around 58 million customers and has a fiber-cable footprint covering over 12 million homes as of December 31, 2021.
Millicom (TIGO) has been recognized for its workplace culture, ranking 5th among multinationals in Central America and the Caribbean. The company achieved top placements, including 1st in Paraguay, 2nd in Costa Rica, and 3rd in Bolivia and Nicaragua. In Guatemala, TIGO ranked 1st in companies with over 2,500 employees, and it also earned 9th place for promoting gender equality in Colombia. This recognition comes from the annual Great Place to Work survey, highlighting Millicom's commitment to employee satisfaction and a positive work environment.
Millicom (TIGO) has successfully completed the sale of its operations in Tanzania as part of its strategy to exit the African market. This transaction, finalized on April 5, 2022, involves a consortium led by Axian, which has taken on ownership, debt, and other obligations of the business. Millicom received approximately $100 million in net cash from this deal, marking the conclusion of its multi-year plan to divest from Africa and focus on expanding in Latin America. CEO Mauricio Ramos emphasized the company’s commitment to improving broadband services in the region.
Millicom (TIGO) has amended the general terms and conditions for its Swedish Depository Receipts (SDRs) concerning shares of Millicom International Cellular S.A. This change, effective February 28, 2022, includes the appointment of Broadridge Corporate Issuer Solutions, Inc. as the new transfer agent in the U.S., replacing American Stock Transfer & Trust Company, LLC. Additionally, the name of the Swedish stock exchange has changed from NASDAQ OMX Stockholm to Nasdaq Stockholm AB. No action is required from SDR holders.
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