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.
Millicom (TIGO) has achieved notable recognition by securing 2nd place in the Great Place to Work® ranking for multinationals in Latin America, marking its fourth consecutive year on this prestigious list. This accolade reflects the company's commitment to diversity, equity, and inclusion among its 20,000 employees across the region. Millicom's leadership emphasized the importance of creating a supportive workplace that fosters collaboration and employee satisfaction. Earlier in 2022, TIGO also ranked 5th among the best multinationals in Central America and the Caribbean.
Millicom (Tigo) announced its Q2 2022 results, showcasing strong growth across all business units. Service revenue increased organically for four consecutive quarters, with notable performance in Colombia where service revenue rose over 8%, driven by a 20% growth in mobile revenue. The rights offering funding the Guatemala acquisition has been completed. Despite challenging macro conditions, Millicom anticipates solid cash flow for the second half of the year and reaffirms its target of around 10% organic operational cash flow growth annually.
Millicom (Tigo) announced the validation of its carbon emissions reduction targets by the Science Based Targets initiative (SBTi). Millicom is among only three telecommunications companies in Latin America to achieve this milestone. The company aims to reduce absolute scope 1 and 2 greenhouse gas emissions by 50% by 2030 and scope 3 emissions by 20% by 2035, using FY2020 as a baseline. These commitments align with the Paris Agreement goals to limit global warming. Millicom's efforts include increasing renewable energy usage, with over 16,000 MWh purchased in 2021.
Millicom (TIGO) has partnered with ETB to enhance its broadband services in Bogota, Colombia. This FTTH wholesale network agreement will allow Tigo Colombia to deliver Tigo-branded broadband internet, PayTV, and telephony services to customers using ETB's network, reaching 1.5 million homes. This partnership expands Tigo's commercial footprint by over 20%, significantly increasing access to potential customers in the region, the largest city in Colombia.
Millicom (TIGO) has announced a significant wholesale network agreement with Ufinet in Bogota. This partnership enables Tigo Colombia to utilize Ufinet's fiber-to-the-home (FTTH) infrastructure to provide broadband internet, PayTV, and telephony services. With current coverage of 250,000 homes expected to expand to 320,000 by year's end, this development aims to enhance Tigo's digital connectivity services while maintaining capital efficiency.
Millicom (TIGO) will announce its second quarter 2022 results on July 28, 2022, at 12:00 (Stockholm) / 11:00 (London) / 06:00 (Miami). A video conference for the financial community will follow at 14:00 (Stockholm) / 13:00 (London) / 08:00 (Miami).
Participants must register for the event to join. The conference will include a Q&A session, where participants can ask questions via email during the live event. A replay and slides will be made available on the Millicom investor website.
Millicom (TIGO) announced the successful exercise of rights by its Directors and Executives as part of its rights offering dated May 18, 2022. During the subscription period from May 27 to June 13, 2022, they exercised 526,140 rights, achieving an impressive 98% subscription rate. This resulted in acquiring 368,298 new shares. Additionally, Millicom's Directors oversubscribed amounting to 4,500 shares. This activity reflects strong support from leadership in enhancing shareholder value.
Millicom (TIGO) has successfully completed its rights offering, issuing a total of 70,357,088 shares. This includes 69,318,977 new shares issued on June 17, 2022, resulting in a capital increase of USD 103,978,465.50. Additionally, on June 28, 2022, 1,038,111 new shares were issued, contributing an extra USD 1,557,166.50 to the share capital. Post-offering, Millicom’s total issued share capital stands at USD 258,144,457.50, represented by 172,096,305 shares with a par value of USD 1.50 each.
Millicom has successfully completed the acquisition of the remaining 20% stake in Tigo Panama, raising its ownership to 100%. This acquisition reflects an exercise of the founders’ liquidity option as outlined in the 2018 Shareholders’ Agreement. With this deal finalized on June 29, 2022, Millicom solidifies its position as the leading telecommunications provider in Panama. The company aims to enhance its service offerings across various digital platforms, benefiting its substantial customer base.
Millicom (Tigo) announced the launch of a new digital platform, Maestr@s Conectad@s, aimed at enhancing digital literacy among teachers in Latin America. Initially launched in 2020, this program has successfully trained over 250,000 educators. The newly developed web-based app offers 20 free courses focused on digital tools and educational innovation, in partnership with AHYU. This initiative aligns with Millicom's commitment to ESG-based education and is crucial for bridging the digital divide in educational systems impacted by the COVID-19 pandemic.