Millicom Intl Cellular S A Stock Price, News & Analysis

Millicom (Tigo) announced ambitious three-year operational, financial, and strategic targets during its 2022 Virtual Investor Day. Highlights include a targeted 10% annual organic operating cash flow growth, with expected mid-single-digit revenue growth and an annual CapEx of approximately $1 billion. The company aims for cumulative equity free cash flow between $800 million to $1 billion and plans to reduce leverage to 2.5x by 2025. Shareholder returns through buybacks will begin in 2023. Millicom also plans an expansive rollout of its fixed broadband network and the establishment of a tower company.

Millicom has reported a strong finish to 2021, with significant growth metrics highlighted in its latest earnings release. The company achieved a record net addition of 1.1 million postpaid mobile customers and 415,000 cable subscribers, contributing to a 6.7% increase in service revenue and EBITDA growth. The cable business has now reached 40% of its Latin American service revenue, growing by 9.3% in 2021. Additionally, the company acquired the remaining 45% share in its Guatemala operations. Millicom is optimistic about continued growth and profitability in 2022.

FreeMove Alliance and Millicom have launched a partnership to enhance connectivity for multinational corporations (MNCs) across the Americas. This collaboration integrates Millicom's eight mobile markets in Latin America into FreeMove's existing network, which spans over 100 markets globally. This strategic alliance aims to optimize mobile connectivity investments for MNCs and offers Millicom's clients access to tier one operators in the US, Brazil, and Europe. The partnership is anticipated to enrich Millicom's service offerings in the competitive mobile managed services sector.

Millicom, a leading provider of fixed and mobile services in Latin America and Africa, will host a virtual investor day on February 14. The event, slated from 3:00-6:00 PM Stockholm time, will cover company strategy, ESG initiatives, and updates on operations in Guatemala and Colombia. Participants can register for the Q&A via this link.

Millicom International Cellular S.A. has filed a standard notification form with the CSSF regarding major holdings as of January 27, 2022. This includes ANNEX A, which details the Southeastern Flagging Funds holding up to 5.08%. As a prominent provider of mobile and fixed services in emerging markets, Millicom continues to expand its footprint in Latin America and Africa, serving approximately 44 million customers. The filing helps maintain compliance with regulatory requirements, ensuring transparency in ownership structures.

Millicom’s subsidiary in Guatemala, Comunicaciones Celulares S.A., has successfully issued US$900 million in 5.125% senior notes due 2032. The proceeds will be used to prepay part of the Bridge Facility Agreement related to the acquisition of a 45% stake in the company. After this transaction, the remaining obligations under the facility will be US$450 million. Rated Ba1 by Moody’s and BB+ by Fitch, the notes will be listed on the Luxembourg Stock Exchange.

The First Extraordinary General Meeting (EGM) of Millicom International Cellular S.A. was convened but failed to meet the required quorum of 50%, with only approximately 44.48% of shares represented. Despite this, around 99% of votes were cast in favor of the agenda items, including an increase in authorized share capital from USD 199.99 million to USD 300 million. A reconvened EGM will be held virtually on February 28, 2022, allowing shareholders to vote by proxy. Key voting deadlines include proxy submission by February 23, 2022, and the Voting Record Date set for February 14, 2022.

Millicom will announce its fourth quarter and annual 2021 results on February 11, 2022. The announcement will be made through a press release at 12:00 (Stockholm) / 11:00 (London) / 06:00 (Miami). A video conference for the global financial community will follow at 14:00 (Stockholm) / 13:00 (London) / 08:00 (Miami). Registration is required to participate in this interactive event.

Tigo Business has launched its first Cloud Center of Excellence (CCoE) in Central America, in collaboration with Microsoft. This initiative aims to enhance cloud adoption among companies in Guatemala, providing expert guidance and support in utilizing Microsoft Azure. With a team boasting over 1,200 certifications in Cloud and Cybersecurity, Tigo Business is set to offer comprehensive professional and managed services. The collaboration focuses on three key areas: cloud solutions, unified communications, and cybersecurity, amid a projected 25% annual growth in cloud computing across Latin America.