Welcome to our dedicated page for Millicom International Cellular news (Ticker: TIGO), a resource for investors and traders seeking the latest updates and insights on Millicom International Cellular 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 released its 2021 Annual Report, highlighting strong performance and commitment to connectivity across Latin America. The report shows a 10.7% revenue increase to $4.6 billion and an addition of 3.1 million mobile customers. Millicom emphasized its ESG framework initiatives, including plans to reduce greenhouse gas emissions and support digital literacy among vulnerable children through a partnership with Fundación Real Madrid. The company's success is attributed to its inclusive culture, recognized in the Great Place to Work survey.
Millicom (TIGO) has released its 2021 Annual Report, emphasizing its dedication to connectivity in emerging markets, particularly in Latin America. The report highlights a 10.7% revenue increase to $4.6 billion and substantial customer growth, adding 3.1 million mobile and 415,000 HFC home customers. CEO Mauricio Ramos noted the company's resilience and improved ESG framework, including commitments to reduce greenhouse gas emissions. Additionally, 112,737 teachers and 158,881 women were trained through digital inclusion programs.
Millicom International Cellular S.A. held an Extraordinary General Meeting of Shareholders on February 28, 2022, which approved all proposed resolutions by the Board of Directors. The authorized capital increased from USD 199,999,800 to USD 300,000,000, facilitating the issuance of 200,000,000 shares at a par value of USD 1.50 each. This decision aligns with the company’s strategic financial goals and regulatory requirements under the 1915 Law, indicating a significant move in their capital structure.
Millicom announced the distribution of 52,895 treasury shares to its executive management team as part of its deferred share-based compensation plans, approved during the annual general meetings from 2019 to 2021. This action aligns with the company's commitment to reward its executives under the terms set in those plans. Further details regarding the share distribution are available on Millicom’s official website. The company, which operates under the TIGO brand, provides telecommunications services across Latin America and Africa.
Millicom International Cellular S.A. announced the nominations for its Board of Directors ahead of the Annual General Meeting (AGM) on May 4, 2022. Tomas Eliasson is proposed as a new Non-Executive Director, bringing his experience as a former non-executive director and chairman of the audit committee. José Antonio Rios García is up for re-election as Chairman. Sonia Dulá will not seek re-election. The Nomination Committee believes Eliasson's appointment will enhance Millicom's strategic and financial oversight during its growth trajectory in Latin America.
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.