Millicom Intl Cellular S A Stock Price, News & Analysis

Millicom (Tigo) reported strong mobile performance in Q1 2023, with notable growth in its Tigo Business B2B segment, attributed to digital services and network investments. The company’s organic growth accelerated, enhancing Average Revenue Per User (ARPU) trends, particularly in mobile services.

The implementation of Project Everest is expected to deliver over $100 million in run-rate savings by the end of 2024, despite incurring significant restructuring costs. Millicom's commitment to ESG practices maintained an 'AA' MSCI ESG rating, outperforming industry averages. The company anticipates achieving its outlined medium-term financial targets based on its robust performance and ongoing operational efficiencies.

Millicom International Cellular S.A. announces the convening of its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) on May 31, 2023, at Hotel Le Royal, Luxembourg. The AGM will cover key agenda items such as the election and re-election of directors, approval of annual accounts for 2022, and the Share Repurchase Plan. Notably, the Board proposes to increase authorized share capital from USD 300 million to USD 375 million, allowing for a potential issuance of new shares. The AGM will also discuss remuneration policies for directors and management, including a vote on the 2022 Remuneration Report and approval of share-based incentive plans. Shareholders must register by May 17, 2023, to participate or vote. The management highlights the importance of these meetings to align future strategies with shareholder interests and ensure operational efficiency.

Millicom Nomination Committee Proposals

On April 21, 2023, Millicom International Cellular announced key proposals for its Board of Directors ahead of the Annual General Meeting on May 31, 2023. The Nomination Committee recommends the election of Blanca Treviño de Vega, María Teresa Arnal Machado, Thomas Reynaud, Nicolas Jaeger, and Michael Golan as new Non-Executive Directors. Additionally, it proposes the re-election of current board members José Antonio Rios García, Bruce Churchill, Tomas Eliasson, and Pernille Erenbjerg. Notably, outgoing directors such as Odilon Almeida and Mercedes Johnson will not seek re-election. The new members are expected to enhance Millicom's strategic direction, particularly in digital infrastructure and telecommunications in Latin America, contributing significantly to the company's growth strategy.

Millicom (TIGO) is set to release its Q1 2023 results on April 27, 2023. A video conference will follow at 14:00 Stockholm time, aimed at the global financial community. Interested parties must register for the event, with further information available on the Millicom investors website. Participants can also join a listen-only mode via phone. Millicom, headquartered in Luxembourg, is a key player in the telecommunications sector in Latin America, offering services under the TIGO brand to over 45 million customers.

Millicom International Cellular S.A. has announced a postponement of its Annual General Meeting (AGM), originally set for May 4, 2023, to a date no later than June 30, 2023. This decision aims to afford the Nomination Committee additional time for finalizing proposals in light of recent amendments, which included the inclusion of Nicolas Jaeger from Atlas Luxco S.àr.l..

The new date and location will be disclosed via press release at least 30 days prior to the meeting, adhering to applicable Luxembourg law.

Millicom (TIGO) has announced a change in its Nomination Committee ahead of the 2023 Annual General Meeting. Mr. Nicolas Jaeger, appointed by Atlas Luxco S.àr.l., has joined the committee, which includes representatives from various significant shareholders. Atlas Luxco holds a 20% stake in Millicom. The committee now consists of members from Swedbank Robur Funds, Nordea Investment Funds, Southeastern Asset Management, Brandes Investment Partners, and the Chairman of Millicom’s Board of Directors. Shareholders are encouraged to propose candidates for the Board of Directors.

Millicom International Cellular S.A. has filed a standard form for notification of major holdings with the CSSF regulatory body as of March 17, 2023. This filing pertains specifically to the Atlas Luxco SARL and is part of the company's compliance obligations. The notification can be accessed via their official website through a provided attachment link. Millicom, traded as TIGO, operates in the telecommunications sector in Latin America, servicing over 45 million customers with various digital products. For more information, visit millicom.com.

Millicom (Tigo) has released its 2022 Annual Report, titled "Connect. Grow. Thrive", highlighting a robust business performance amid challenging macroeconomic conditions. The report indicates a 32% increase in revenue, reaching $5.6 million, with a 3.5% organic service revenue growth for the second consecutive year. Key initiatives include a commitment to reduce GHG emissions and achieve gender balance in management by 2030. Millicom's investments in broadband networks in Central America total $1.05 billion, including a recent $350 million increase. The company serves 40.6 million mobile customers and has expanded its 4G network to cover 80% of the population in Latin America.

Millicom (Tigo) released its 2022 Annual Report, highlighting a robust year with significant achievements and growth potential in Latin America. The company exited Africa and focused exclusively on its Latin American markets, yielding a positive organic service revenue growth of 3.5%. Millicom generated $5.6 billion in revenue, a 32% increase year-over-year, and expanded its 4G network coverage to 80% of its footprint. The report outlines ambitious operational and ESG targets, including a 50% reduction in greenhouse gas emissions by 2030. Notably, Millicom committed $700 million for network expansion in Central America, demonstrating its dedication to enhancing connectivity in the region.