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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 entered into an agreement with SBA Communications for a sale and leaseback of approximately 7,000 towers across Guatemala, Honduras, Panama, El Salvador and Nicaragua for $975 million, plus performance-based earn-outs. The deal includes a build-to-suit agreement for up to 2,500 additional sites. The transaction, expected to close in mid-2025, aims to optimize operational and capital efficiency while maintaining Millicom's position as the leading mobile network operator in Central America. The deal will make SBA Communications the leading tower company across Central America.
Millicom (Tigo) has announced it will release its third quarter 2024 results on November 7, 2024, followed by a video conference for the global financial community at 15:00 Stockholm time / 14:00 London time / 09:00 Miami time. The interactive event requires pre-registration, and participants wishing to ask questions must notify the Investor Relations team via email after the event begins. A listen-only option is available via dial-in numbers for multiple countries. Presentation slides and event replay will be available on Millicom's investor website.
Millicom (Tigo) has announced its intention to redeem in full its 6.625% Senior Unsecured Notes due 2026 on October 28, 2024. The redemption will cover the entire outstanding amount of $147,855,600. According to the terms of the indenture governing the Notes, the redemption price will be 100% of the principal amount, plus accrued and unpaid interest and Additional Amounts (if any) up to, but not including, the Redemption Date.
The company will send a notice of redemption to the holders of the Notes as required by the indenture. Millicom clarifies that this announcement does not constitute an offer to sell or a solicitation of an offer to buy any security, nor does it serve as a formal notice of redemption under the Indenture.
Millicom International Cellular S.A., operating under the brand name Tigo, has announced the filing of standard forms for notification of major holdings with the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg on October 17, 2024. This regulatory filing includes two attachments detailing the major holdings notification. The company has not provided any additional information about the nature or specifics of these major holdings in the press release.
Millicom International Cellular S.A., operating under the brand Tigo, has announced the filing of a standard form for notification of major holdings with the CSSF (Commission de Surveillance du Secteur Financier) on October 15, 2024. This regulatory filing is a standard procedure for companies to disclose significant changes in shareholding structure. The announcement was made from Luxembourg, where Millicom is headquartered.
The company has not provided any specific details about the nature of the major holdings being reported. For further information, interested parties are directed to contact Sofía Corral, Director of Corporate Communications, for press inquiries, or Michel Morin, VP of Investor Relations, for investor-related questions.
Millicom (NASDAQ: TIGO) announced changes to its Board of Directors on September 24, 2024. Thomas Reynaud and Aude Durand have stepped down from their roles as board members, effective immediately. The Board, maintaining its composition of eight directors, has unanimously appointed Jules Niel and Pierre-Emmanuel Durand as interim members until the next annual general meeting.
Reynaud and Durand's departure coincides with changes in Millicom's leadership and governance, as well as their increased commitments to Iliad group companies. The Board expressed gratitude for their contributions over the past 18 months, during which Millicom achieved significant improvements in its results.
Jules Niel, born in 2000, is an Investment Associate at NJJ Telecom Europe, while Pierre-Emmanuel Durand, born in 1990, serves as an Investment Director at NJJ Telecom Europe and Atlas Investissement. A Nominations Committee will be formed to propose new board members for election at the next annual general meeting.
Millicom (TIGO) announced that Mauricio Ramos is stepping down as Chair of the Board on September 30, 2024. The Board has appointed Maxime Lombardini as Interim Chair. Ramos joined Millicom in 2015 as CEO, became a Board member in 2020, and was appointed Executive Chair in September 2023.
Under Ramos' leadership, Millicom transformed into a leading telecom provider in Latin America, developing a strong corporate culture and executing a successful M&A strategy. Key achievements include exiting 6 African countries, acquiring Cable Onda in Panama, and consolidating ownership of its Guatemalan subsidiary.
Lombardini, who has been COO and President since September 2023, will step down from these roles to assume the position of Interim Non-Executive Chair. A Nominations Committee will propose a new Chair for election at the next annual general meeting.
Millicom's subsidiary, Telefónica Celular del Paraguay S.A.E (Telecel Paraguay), has announced its intention to partially redeem $150,000,000 of its 5.875% Senior Unsecured Notes due 2027. The redemption is scheduled for September 23, 2024. According to the terms of the indenture governing the Notes, the redemption price will be 100% of the principal amount, plus accrued and unpaid interest and Additional Amounts (if any) up to, but not including, the Redemption Date.
This announcement does not constitute an offer to sell or a solicitation to buy any security, nor does it serve as a formal notice of redemption under the Indenture. The company emphasizes that this action does not represent an offer, solicitation, or sale in any jurisdiction where such activities would be unlawful.
Millicom International Cellular S.A., operating under the brand name Tigo, has announced the filing of a standard form for notification of major holdings with the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg on September 06, 2024. This regulatory filing is a important step in maintaining transparency regarding significant shareholdings in the company. The announcement does not provide specific details about the nature of the holdings or the parties involved, but it signals compliance with regulatory requirements for disclosing substantial changes in ownership structure.
Millicom International Cellular S.A. announced the expiration of its previously announced consent solicitation from holders of its senior notes due in 2026, 2028, 2029, 2031, and 2032. The company sought to amend certain provisions of the indentures governing these notes. However, Millicom stated that the Proposed Amendments will not be made. This announcement does not constitute an offer to sell or issue securities, nor a solicitation to buy or subscribe for securities in any jurisdiction. The consent solicitation was directed at holders of record as of August 2, 2024.
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