Millicom Intl Cellular S A Stock Price, News & Analysis

Millicom (TIGO) has reported strong Q1 2022 results, outperforming expectations. The company added 1 million postpaid subscribers in Colombia, achieving over 50% growth. B2B services grew by approximately 5%, the highest in three years, thanks to a strategic focus on customer segmentation and digital services. Home services also showed solid performance with service revenue growth of over 5%. Millicom is optimistic about accelerated growth for the rest of the year, aiming to expand network access to 1 million new homes and developing its Fintech services.

Millicom (Tigo) has announced that the record date for its upcoming rights offering is set for May 12, 2022. The company aims to raise approximately $750 million through this offering, allowing existing shareholders to purchase common shares. The proceeds will primarily be used to repay outstanding debt from a $2.2 billion acquisition of its business in Guatemala. Additionally, the conversion between common shares and SDRs will be halted from May 9 to June 1, 2022. Further details will be provided before the offering begins.

Millicom (TIGO) has announced the schedule for its first quarter 2022 results, set to be released on April 28, 2022 at 12:00 Stockholm time. A video conference for the global financial community will follow at 14:00 Stockholm time the same day, requiring prior registration.

Millicom, a leading telecommunications provider in Latin America, is known for its diverse digital services, including TIGO Money and TIGO Sports. The company continues to serve around 58 million customers and has a fiber-cable footprint covering over 12 million homes as of December 31, 2021.

Millicom (TIGO) has been recognized for its workplace culture, ranking 5th among multinationals in Central America and the Caribbean. The company achieved top placements, including 1st in Paraguay, 2nd in Costa Rica, and 3rd in Bolivia and Nicaragua. In Guatemala, TIGO ranked 1st in companies with over 2,500 employees, and it also earned 9th place for promoting gender equality in Colombia. This recognition comes from the annual Great Place to Work survey, highlighting Millicom's commitment to employee satisfaction and a positive work environment.

Millicom (TIGO) has successfully completed the sale of its operations in Tanzania as part of its strategy to exit the African market. This transaction, finalized on April 5, 2022, involves a consortium led by Axian, which has taken on ownership, debt, and other obligations of the business. Millicom received approximately $100 million in net cash from this deal, marking the conclusion of its multi-year plan to divest from Africa and focus on expanding in Latin America. CEO Mauricio Ramos emphasized the company’s commitment to improving broadband services in the region.

Millicom (TIGO) has amended the general terms and conditions for its Swedish Depository Receipts (SDRs) concerning shares of Millicom International Cellular S.A. This change, effective February 28, 2022, includes the appointment of Broadridge Corporate Issuer Solutions, Inc. as the new transfer agent in the U.S., replacing American Stock Transfer & Trust Company, LLC. Additionally, the name of the Swedish stock exchange has changed from NASDAQ OMX Stockholm to Nasdaq Stockholm AB. No action is required from SDR holders.

Millicom (TIGO) has submitted a standard form for notification of major holdings to the CSSF, dated March 24, 2022. This filing includes ANNEX A, which details the notification related to Swedbank’s holdings of up to 5.04% in Millicom. The attached document provides further insights into the holdings and regulatory compliance. Millicom, a prominent telecommunications provider in Latin America and Africa, continues to expand its services, reaching approximately 58 million customers with a fiber-cable footprint covering over 12 million homes.

Millicom International Cellular S.A. has filed a standard form for notification of major holdings with the CSSF. This filing is part of regulatory compliance that informs about the significant changes in share ownership. The attached documents include the ANNEX A detailing the notification.

As a key provider of telecommunications services in Latin America and Africa, Millicom serves around 58 million customers and employs approximately 21,000 people. This step is crucial for maintaining transparency in shareholder interests.

The Annual General Meeting (AGM) of Millicom International Cellular S.A. is set for May 4, 2022, at 2:00 PM CET, to be held virtually. Shareholders can vote by proxy only, with a deadline of April 28, 2022, for submissions. Key agenda items include approving the management and auditor reports for 2021, electing directors, and discussing the Share Repurchase Plan. Additionally, the AGM will address the remuneration policies for directors and senior management. As of March 15, 2022, Millicom had 101,739,217 outstanding shares, with no quorum required for the AGM.