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 reported strong first-quarter results for 2021, highlighting significant growth in customer base and financial metrics. The company added 166,000 Home customers and 1.1 million Mobile customers, marking its best Q1 performance in a decade. Service revenue rose, with Latam growth exceeding 5.5% in March. Millicom also announced the sale of its remaining operations in Africa, aiming to reduce net debt and potentially resume share buybacks later this year.
Millicom has signed agreements to divest its operations in Tanzania and its stake in the AirtelTigo joint venture in Ghana, completing its African divestiture program. The Tanzania sale is to a consortium led by Axian, while the Ghana transaction involves a handover to the Government of Ghana. Millicom will incur a $25 million charge from the Ghana deal. This strategic shift emphasizes Millicom's focus on enhancing its services in Latin America, where demand for broadband is growing.
Millicom will announce its first quarter 2021 results on April 29, 2021 at 12:00 Stockholm time. A video conference for the financial community is scheduled for the same day at 14:00 Stockholm time. Registration is necessary via the provided link. Participants can also join via telephone using specific international numbers. A replay will be available on the Millicom website following the event.
Millicom International Cellular SA (NASDAQ: TIGO) filed a notification of major holdings with the CSSF on April 8, 2021. The filing includes ANNEX A, which outlines significant shareholder changes, specifically flagging funds up to 5.1% owned by AMF Pensionsförsäkring AB. This regulatory compliance supports transparency in market activities, reflecting Millicom's commitment to adhering to financial regulations.
Millicom International Cellular S.A. announced on April 7, 2021, the distribution of 48,531 treasury shares to its executive management team as part of its performance share-based compensation plan, approved at the 2018 annual general meeting. This distribution aligns with the company's commitment to rewarding its executives based on performance metrics. The details of the shares' distribution are available on Millicom's website.
Tigo Business has partnered with Amazon Web Services (AWS) to enhance its cloud services across Central America, Colombia, and Panama. This collaboration aims to integrate AWS into Tigo's Multi-Cloud Managed Services, providing essential services such as cloud consulting, migration, and management. The initiative is part of Tigo's efforts to accelerate digital transformation for its more than 300,000 B2B customers, leveraging a robust fiber optic network and specialized engineering teams. This strategic partnership reflects a commitment to technological advancement in the region.
Millicom held a virtual Women’s History Month webinar titled Empowering Women featuring industry leaders discussing leadership and inclusion in tech. Moderated by Carolina Amoroso, the event highlighted insights from Susy Bobenrieth, Millicom’s Chief Human Resources Officer, and Doreen Bogdan-Martin from the ITU. They emphasized the importance of women in tech and building strong networks. Millicom aims to bridge the digital gender divide while enhancing connectivity across Latin America. CEO Mauricio Ramos was recently appointed to the Broadband Commission for Sustainable Development.
Millicom announces the appointment of CEO Mauricio Ramos to the Broadband Commission for Sustainable Development. The Commission, established in 2010 by ITU and UNESCO, aims to enhance broadband's role in international policy and bridge the digital divide. Ramos expressed his commitment to fostering a sustainable digital ecosystem and attracting investment to improve connectivity and development in Latin America. The Commission includes over 50 industry leaders advocating for secure and sustainable broadband services.
Millicom Announces Board Nominations Ahead of AGM
Millicom International Cellular S.A. has proposed the election of Bruce Churchill, Sonia Dulá, and Lars-Johan Jarnheimer as new Non-Executive Directors before its Annual General Meeting on May 4, 2021. José Antonio Rios García will be re-elected as Chairman, alongside other board members. Churchill brings over 30 years of media industry experience, while Dulá and Jarnheimer possess extensive backgrounds in banking, technology, and telecommunications. The changes aim to strengthen Millicom's strategic and operational oversight in Latin America.
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