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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) 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.
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.
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