Welcome to our dedicated page for Millicom Intl Cellular S A news (Ticker: TIGO), a resource for investors and traders seeking the latest updates and insights on Millicom Intl 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 successfully closed a significant transaction acquiring the remaining 45% equity interest in its joint venture businesses in Guatemala. This acquisition is a strategic move aimed at enhancing its market position in the region. The announcement was made on November 12, 2021, as the company continues to expand its footprint in Latin America and deliver high-speed broadband services to its customers. Millicom aims to leverage this acquisition to strengthen its operational capabilities and deliver improved services.
Millicom International Cellular has formally submitted a regulatory filing to the CSSF concerning major holdings. This filing is detailed in the ANNEX A: Standard form for notification of major holdings and involves funds flagged by Dodge & Cox up to 5.09%. As of now, this action reflects the company's ongoing commitment to transparency in its financial dealings.
Millicom has agreed to acquire the remaining 45% equity interest in Tigo Guatemala from its local partner for $2.2 billion, giving it full ownership. This acquisition is expected to enhance Millicom's cash flow and net income by approximately $200 million before financing costs. The transaction will be financed through bridge loans and a planned issuance of $1.5 billion in new long-term debt, alongside $750 million in equity via a rights offering expected in Q1 2022. Following this, Millicom's leverage is projected to decrease toward a target of 2.0x.
Millicom has announced the launch of the first Maestr@s Conectad@s Congress in Latin America, highlighting its commitment to transforming education through technology. Set for November 10-11, 2021, this congress will feature education experts from five countries discussing digital tools for educators. The initiative, part of Millicom's ESG strategy, has benefited over 250,000 teachers since 2020, aiming to enhance digital inclusion. Attendance is free with registration, and sessions will be available on YouTube and Facebook.
Millicom has established a Nomination Committee ahead of its 2022 Annual General Meeting. Formed in consultation with major shareholders, the Committee includes representatives from Swedbank Robur, Nordea Investment Funds, AMF Pensionsförsäkring AB, and Southeastern Asset Management. John Hernander has been elected Chair. Shareholders can propose Board candidates by contacting the Company Secretary. Millicom, headquartered in Luxembourg, provides mobile and fixed services primarily in Latin America and Africa, serving around 55 million customers as of December 31, 2020.
Millicom reported a robust performance in Q3 2021, with all business lines in Latin America contributing to growth. Notable highlights include the addition of 359,000 mobile customers in Colombia and strong service revenue expansion, particularly an 18% growth in El Salvador. The company resumed shareholder remuneration through share buybacks and aims for an operational cash flow target of at least $1.4 billion for the year. Investments are ongoing in mobile network expansions across several countries and in Tigo Money, alongside progress on their ESG initiatives.
Millicom announced the repurchase of 95,687 Swedish Depository Receipts (SDRs) from September 30 to October 6, 2021, as part of its ongoing Repurchase Program. The total number of shares repurchased under this program now stands at 917,424, with a remaining buyback capacity of approximately SEK 870 million (about USD 100 million) or 5 million SDRs. As of October 6, 2021, Millicom holds 1,093,023 treasury shares out of 101,739,217 total outstanding shares.
Millicom has announced its share repurchase actions from September 23 to September 29, 2021, purchasing a total of 82,299 Swedish Depository Receipts (SDRs). This initiative, part of a repurchase program launched on July 29, 2021, aims to enhance shareholder value. The purchases were executed at a weighted average price of SEK 310.86 per share, totaling approximately SEK 23.3 million in value. As of September 29, Millicom holds 997,336 treasury shares and has repurchased 821,737 SDRs under this program.
Millicom announced it will release its third quarter 2021 results on October 28, 2021. The announcement will be made via press release around 12:00 Stockholm time. Following the release, Millicom will host a video conference at 14:00 Stockholm time for the financial community. Registration for this interactive event is required, and participants can join in listen-only mode or by asking questions through a specified email. Additional details will be available on the Millicom investor website.
Millicom has partnered with Fundación Real Madrid to support over 65 social sports projects across nine Latin American countries and the U.S. This alliance, signed by CEO Mauricio Ramos, aims to benefit more than 11,200 children and families by promoting digital literacy and preventing cyberbullying. Millicom, a leading telecommunications provider with over 55 million customers, emphasizes its commitment to community development and enhancing the future of children through connectivity and sports.
FAQ
What is the current stock price of Millicom Intl Cellular S A (TIGO)?
What is the market cap of Millicom Intl Cellular S A (TIGO)?
What does Millicom International Cellular S.A. do?
Which countries does Millicom serve?
What services does Millicom offer?
What are Millicom's recent achievements?
How extensive is Millicom's network coverage?
Who owns Millicom's operations in Latin America?
What is Millicom's strategic focus for 2024?
What is the significance of Millicom's share repurchase activity?
How does Millicom communicate financial performance and updates?
What is Millicom's approach to market adaptation?
