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’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.
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Millicom Announces CFO Transition
Millicom has revealed that Tim Pennington will retire as CFO on April 1, 2022, after serving since 2014. He will be succeeded by Sheldon Bruha, who will join on January 17. Pennington has been pivotal in Millicom's transformation into a premier broadband provider in Latin America, overseeing significant projects like the company's exit from Africa. Bruha, previously with Frontier Communications, brings extensive experience in financial restructuring and telecommunications. CEO Mauricio Ramos expressed excitement about Bruha's appointment and the ongoing commitment to growth.
IDB Invest is backing Tigo Colombia with a guarantee line of up to COP625,000 million to enhance digital connectivity in Colombia. This initiative aims to improve mobile broadband access in 177 localities and upgrade services in 340 municipalities. With a tenor of up to two years for issued letters of credit, the project supports vulnerable sectors, and aligns with the UN Sustainable Development Goals. Tigo is committed to complying with an Environmental and Social Action Plan, enhancing operational practices and facilitating connectivity for rural populations.
Millicom (Tigo) will host an investor day on February 14, 2022, in Miami, Florida. This event will accommodate both virtual and in-person attendance due to COVID restrictions. Details on the program and participation will be shared closer to the event date. Millicom, a leading provider of both fixed and mobile services in emerging markets, caters to approximately 55 million customers across Latin America and Africa. For inquiries, contact investor relations professionals at Millicom.
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Millicom International Cellular S.A. convenes an extraordinary general meeting (EGM) for shareholders on January 24, 2022, at 4:00 PM CET. The meeting will address key agenda items, including an increase in authorized share capital from USD 199.99 million to USD 300 million to facilitate a rights offering linked to the acquisition of Tigo Guatemala. Shareholders are advised to vote by proxy due to COVID-19 precautions. Important deadlines include January 3 for proposing additional agenda items and January 19 for submitting proxies.