Millicom Intl Cellular S A Stock Price, News & Analysis

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.

Millicom will announce its first quarter 2021 results on April 29, 2021 at 12:00 Stockholm time. A video conference for the financial community is scheduled for the same day at 14:00 Stockholm time. Registration is necessary via the provided link. Participants can also join via telephone using specific international numbers. A replay will be available on the Millicom website following the event.

Millicom International Cellular SA (NASDAQ: TIGO) filed a notification of major holdings with the CSSF on April 8, 2021. The filing includes ANNEX A, which outlines significant shareholder changes, specifically flagging funds up to 5.1% owned by AMF Pensionsförsäkring AB. This regulatory compliance supports transparency in market activities, reflecting Millicom's commitment to adhering to financial regulations.

Millicom International Cellular S.A. announced on April 7, 2021, the distribution of 48,531 treasury shares to its executive management team as part of its performance share-based compensation plan, approved at the 2018 annual general meeting. This distribution aligns with the company's commitment to rewarding its executives based on performance metrics. The details of the shares' distribution are available on Millicom's website.

Tigo Business has partnered with Amazon Web Services (AWS) to enhance its cloud services across Central America, Colombia, and Panama. This collaboration aims to integrate AWS into Tigo's Multi-Cloud Managed Services, providing essential services such as cloud consulting, migration, and management. The initiative is part of Tigo's efforts to accelerate digital transformation for its more than 300,000 B2B customers, leveraging a robust fiber optic network and specialized engineering teams. This strategic partnership reflects a commitment to technological advancement in the region.

Millicom held a virtual Women’s History Month webinar titled Empowering Women featuring industry leaders discussing leadership and inclusion in tech. Moderated by Carolina Amoroso, the event highlighted insights from Susy Bobenrieth, Millicom’s Chief Human Resources Officer, and Doreen Bogdan-Martin from the ITU. They emphasized the importance of women in tech and building strong networks. Millicom aims to bridge the digital gender divide while enhancing connectivity across Latin America. CEO Mauricio Ramos was recently appointed to the Broadband Commission for Sustainable Development.