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 International Cellular S.A. has announced the convening of its Annual General Meeting (AGM) set for May 4, 2021, at 2:00 PM CET. Due to COVID-19, the meeting will be held virtually, and physical attendance is not allowed. Key agenda items include the approval of the 2020 annual accounts, election of directors, and approval of a share repurchase plan. Shareholders must vote by proxy, with submission deadlines for proxies on April 28, 2021. Millicom has 101,739,217 shares outstanding, and decisions require a simple majority.
Millicom (TIGO) released its 2020 Annual Report, focusing on resilience amidst the COVID-19 pandemic. The report emphasizes three key commitments: safety for teams and communities, maintaining market leadership, and enhancing digital connectivity. Highlights include adding 2.3 million mobile customers, achieving $1.5 billion in underlying operating cash flow, and reaching over 300,000 international customers through Tigo Business. The company celebrates 30 years of pioneering the digital landscape and remains dedicated to promoting economic growth across Latin America and Africa.
Millicom International Cellular (NASDAQ: TIGO) announced on March 8, 2021, the distribution of 42,833 treasury shares to its executive management under its deferred share-based compensation plan. These distributions align with the company’s previously approved plans from its 2018 to 2020 general meetings. This move aims to reward executive performance and enhance alignment with shareholder interests. More details on the distributions can be found on Millicom's website.
Millicom International Cellular S.A. announced its participation in the JP Morgan Global High Yield & Leveraged Finance Conference on March 3, 2021, at 10:00 am EST. CFO Tim Pennington will discuss the company's resilient cash flow, strong customer growth in 2020, and a commitment to reducing net debt in 2021. Millicom provides fixed and mobile services in emerging markets, serving approximately 55 million customers and employing over 21,000 people. The company is dedicated to high-speed broadband and digital lifestyle services.
Millicom CEO Mauricio Ramos addressed the AACCLA Outlook on the Americas 2021 conference, emphasizing the importance of digital connectivity in post-COVID-19 recovery. He highlighted the need for a flexible regulatory framework to enhance telecommunications, positioning the sector as vital for economic reactivation. Ramos, recently elected Chair of the U.S.-Colombia Business Council, reaffirmed Millicom's commitment to expanding 4G networks across Latin America in preparation for future 5G evolution. The conference underscored vital digital priorities for the region.
Millicom reported its Q4 2020 and full-year results, highlighting resilient cash flow and customer growth. CEO Mauricio Ramos acknowledged the company's challenges during the pandemic but noted a recovery beginning in June, gaining traction in Q4. Millicom aims for an operational cash flow of at least $1.4 billion in 2021, while prioritizing capital expenditure and net debt reduction. The company has opted not to pay a cash dividend this year but may consider share repurchases later. As of December 31, 2020, Millicom served approximately 55 million customers in Latin America and Africa.
Millicom International Cellular announced plans to partially redeem senior notes totaling $175 million, comprising $50 million of 6.625% notes due 2026, $50 million of 5.125% notes due 2028, and $75 million of 6.25% notes due 2029. The redemption will occur at a price of 103% of the principal amount plus accrued interest, with the anticipated redemption date set for February 22, 2021. This move is a strategic debt management initiative, aimed at optimizing capital structure.
Millicom announces that its CEO, Mauricio Ramos, has been elected as Chair of the U.S.-Colombia Business Council (USCBC) as of February 9, 2021. The USCBC aims to enhance economic ties between the United States and Colombia, alleviating trade barriers and promoting growth. Ramos expressed his commitment to leveraging digital technology for stronger commercial relations. The U.S. is Colombia's largest trading partner, with trade volumes reaching $29 billion in goods and $11.7 billion in services in 2019, indicating a robust partnership.
Millicom Trading Update
On October 19, 2020, Millicom International Cellular provided a trading update detailing the impact of COVID-19 on its operational and financial performance. The second quarter of 2020 was particularly weak, but there was improvement in June that has continued into the third quarter. Despite this recovery, key indicators are still significantly below pre-COVID levels. Millicom is set to report its Q3 2020 results on October 30, 2020.
Millicom International Cellular has announced a proposed offering of $500 million in senior notes due 2031. The proceeds will be used to redeem the existing 6.0% senior notes due 2025 at a redemption price of 103% of their principal, plus interest. The anticipated redemption date is October 29, 2020. This offering is aimed at qualified institutional buyers and non-U.S. investors. The completion of this transaction is necessary for the planned redemption.
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