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. reports developments in fixed and mobile telecommunications across Latin America through its TIGO and Tigo Business brands. Company news centers on mobile and fiber-cable services, high-speed data, voice, pay TV, mobile financial services, local entertainment and business-to-business cloud and security offerings.
Recurring updates include operating results, network and fiber-capacity investments, regional connectivity agreements, sports-content arrangements, Colombia consolidation through Coltel, senior-note financing and redemption actions, and shareholder meeting matters.
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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.