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 submitted a standard form for notification of major holdings to the CSSF, dated March 24, 2022. This filing includes ANNEX A, which details the notification related to Swedbank’s holdings of up to 5.04% in Millicom. The attached document provides further insights into the holdings and regulatory compliance. Millicom, a prominent telecommunications provider in Latin America and Africa, continues to expand its services, reaching approximately 58 million customers with a fiber-cable footprint covering over 12 million homes.
Millicom International Cellular S.A. has filed a standard form for notification of major holdings with the CSSF. This filing is part of regulatory compliance that informs about the significant changes in share ownership. The attached documents include the ANNEX A detailing the notification.
As a key provider of telecommunications services in Latin America and Africa, Millicom serves around 58 million customers and employs approximately 21,000 people. This step is crucial for maintaining transparency in shareholder interests.
The Annual General Meeting (AGM) of Millicom International Cellular S.A. is set for May 4, 2022, at 2:00 PM CET, to be held virtually. Shareholders can vote by proxy only, with a deadline of April 28, 2022, for submissions. Key agenda items include approving the management and auditor reports for 2021, electing directors, and discussing the Share Repurchase Plan. Additionally, the AGM will address the remuneration policies for directors and senior management. As of March 15, 2022, Millicom had 101,739,217 outstanding shares, with no quorum required for the AGM.
The Annual General Meeting (AGM) of Millicom International Cellular S.A. will be held virtually on May 4, 2022, at 2:00 PM CET, due to COVID-19 precautions. Key agenda items include approval of the 2021 annual accounts, election of directors, and the Share Repurchase Plan. Notably, Millicom reported a profit of USD 204.8 million for the fiscal year 2021. The AGM will also address director remuneration and vote on the 2021 Remuneration Report. Shareholders are encouraged to vote by proxy, with deadlines for submissions set for April 28, 2022.
Millicom (TIGO) has released its 2021 Annual Report, highlighting strong performance and commitment to connectivity across Latin America. The report shows a 10.7% revenue increase to $4.6 billion and an addition of 3.1 million mobile customers. Millicom emphasized its ESG framework initiatives, including plans to reduce greenhouse gas emissions and support digital literacy among vulnerable children through a partnership with Fundación Real Madrid. The company's success is attributed to its inclusive culture, recognized in the Great Place to Work survey.
Millicom (TIGO) has released its 2021 Annual Report, emphasizing its dedication to connectivity in emerging markets, particularly in Latin America. The report highlights a 10.7% revenue increase to $4.6 billion and substantial customer growth, adding 3.1 million mobile and 415,000 HFC home customers. CEO Mauricio Ramos noted the company's resilience and improved ESG framework, including commitments to reduce greenhouse gas emissions. Additionally, 112,737 teachers and 158,881 women were trained through digital inclusion programs.
Millicom International Cellular S.A. held an Extraordinary General Meeting of Shareholders on February 28, 2022, which approved all proposed resolutions by the Board of Directors. The authorized capital increased from USD 199,999,800 to USD 300,000,000, facilitating the issuance of 200,000,000 shares at a par value of USD 1.50 each. This decision aligns with the company’s strategic financial goals and regulatory requirements under the 1915 Law, indicating a significant move in their capital structure.
Millicom announced the distribution of 52,895 treasury shares to its executive management team as part of its deferred share-based compensation plans, approved during the annual general meetings from 2019 to 2021. This action aligns with the company's commitment to reward its executives under the terms set in those plans. Further details regarding the share distribution are available on Millicom’s official website. The company, which operates under the TIGO brand, provides telecommunications services across Latin America and Africa.
Millicom International Cellular S.A. announced the nominations for its Board of Directors ahead of the Annual General Meeting (AGM) on May 4, 2022. Tomas Eliasson is proposed as a new Non-Executive Director, bringing his experience as a former non-executive director and chairman of the audit committee. José Antonio Rios García is up for re-election as Chairman. Sonia Dulá will not seek re-election. The Nomination Committee believes Eliasson's appointment will enhance Millicom's strategic and financial oversight during its growth trajectory in Latin America.
Millicom (Tigo) announced ambitious three-year operational, financial, and strategic targets during its 2022 Virtual Investor Day. Highlights include a targeted 10% annual organic operating cash flow growth, with expected mid-single-digit revenue growth and an annual CapEx of approximately $1 billion. The company aims for cumulative equity free cash flow between $800 million to $1 billion and plans to reduce leverage to 2.5x by 2025. Shareholder returns through buybacks will begin in 2023. Millicom also plans an expansive rollout of its fixed broadband network and the establishment of a tower company.
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