Millicom Intl Cellular S A Stock Price, News & Analysis

Millicom will invest $135 million over the next two to three years to modernize its mobile network in partnership with Ericsson in Honduras, Paraguay, and Bolivia. This investment aims to enhance mobile connectivity and manage increased traffic resulting from COVID-19. Key features include LTE and 5G-ready technology with carrier aggregation for improved speed. The project will expand network coverage to 712 municipalities and 2.5 million people, reinforcing Millicom's position in the market with an emphasis on digital inclusion.

Millicom will announce its second quarter 2021 results on July 29, 2021, at 12:00 Stockholm time. Following this, a video conference for investors and analysts will take place at 14:00 Stockholm time, requiring prior registration. Participants can join in listen-only mode by calling provided numbers. The company, which operates under the TIGO brand, serves about 55 million customers and has a substantial cable footprint. Founded in 1992, Millicom is headquartered in Luxembourg and focuses on telecommunications in Latin America and Africa.

Millicom International Cellular S.A. announced the distribution of 24,737 shares to its Board of Directors as non-executive remuneration for the period from the 2021 AGM to the 2022 AGM. This decision aligns with the resolution passed during the annual general meeting on May 4, 2021. The share distribution was calculated based on the average closing share price of $38.41 for the three months ending April 30, 2021. Further details are available on Millicom's website.

Millicom has announced the sale of its entire stake in Helios Towers, comprising 76,451,874 shares, which is about 7.65% of Helios Towers’ issued share capital. The binding agreements have been signed with two institutional investors and the transaction is anticipated to close on June 2, 2021. This move completes Millicom's divestment from Helios Towers, as it focuses on its core business in emerging markets. The company's commitment to high-speed broadband and digital services remains strong.

Millicom has become the first operator in Latin America to deploy O-RAN compliant Open RAN technology, partnering with Parallel Wireless. The initiative, executed by Millicom's subsidiary TIGO Colombia, will enhance 4G service coverage across 362 rural sites. This innovative architecture allows the integration of various suppliers' hardware and software, promoting faster mobile coverage in remote areas. Millicom aims to increase efficiency and reduce costs by diversifying its supplier base, ultimately improving digital connectivity for rural communities.

Millicom held its Annual General Meeting on May 4, 2021, where all resolutions proposed by the Board of Directors were approved. The AGM confirmed the number of directors at 9, re-elected several directors, and elected three new Non-Executive Directors. Key approvals included the annual accounts, profit allocation of USD 56,066,101, and the re-election of Ernst & Young as the external auditor. Notable new board members include Bruce Churchill, Sonia Dulá, and Lars-Johan Jarnheimer. Millicom continues to expand its services in emerging markets.

Millicom reported strong first-quarter results for 2021, highlighting significant growth in customer base and financial metrics. The company added 166,000 Home customers and 1.1 million Mobile customers, marking its best Q1 performance in a decade. Service revenue rose, with Latam growth exceeding 5.5% in March. Millicom also announced the sale of its remaining operations in Africa, aiming to reduce net debt and potentially resume share buybacks later this year.

Millicom has signed agreements to divest its operations in Tanzania and its stake in the AirtelTigo joint venture in Ghana, completing its African divestiture program. The Tanzania sale is to a consortium led by Axian, while the Ghana transaction involves a handover to the Government of Ghana. Millicom will incur a $25 million charge from the Ghana deal. This strategic shift emphasizes Millicom's focus on enhancing its services in Latin America, where demand for broadband is growing.