Millicom Intl Cellular S A Stock Price, News & Analysis

Millicom CEO Mauricio Ramos addressed the AACCLA Outlook on the Americas 2021 conference, emphasizing the importance of digital connectivity in post-COVID-19 recovery. He highlighted the need for a flexible regulatory framework to enhance telecommunications, positioning the sector as vital for economic reactivation. Ramos, recently elected Chair of the U.S.-Colombia Business Council, reaffirmed Millicom's commitment to expanding 4G networks across Latin America in preparation for future 5G evolution. The conference underscored vital digital priorities for the region.

Millicom reported its Q4 2020 and full-year results, highlighting resilient cash flow and customer growth. CEO Mauricio Ramos acknowledged the company's challenges during the pandemic but noted a recovery beginning in June, gaining traction in Q4. Millicom aims for an operational cash flow of at least $1.4 billion in 2021, while prioritizing capital expenditure and net debt reduction. The company has opted not to pay a cash dividend this year but may consider share repurchases later. As of December 31, 2020, Millicom served approximately 55 million customers in Latin America and Africa.

Millicom International Cellular announced plans to partially redeem senior notes totaling $175 million, comprising $50 million of 6.625% notes due 2026, $50 million of 5.125% notes due 2028, and $75 million of 6.25% notes due 2029. The redemption will occur at a price of 103% of the principal amount plus accrued interest, with the anticipated redemption date set for February 22, 2021. This move is a strategic debt management initiative, aimed at optimizing capital structure.

Millicom announces that its CEO, Mauricio Ramos, has been elected as Chair of the U.S.-Colombia Business Council (USCBC) as of February 9, 2021. The USCBC aims to enhance economic ties between the United States and Colombia, alleviating trade barriers and promoting growth. Ramos expressed his commitment to leveraging digital technology for stronger commercial relations. The U.S. is Colombia's largest trading partner, with trade volumes reaching $29 billion in goods and $11.7 billion in services in 2019, indicating a robust partnership.

Millicom Trading Update

On October 19, 2020, Millicom International Cellular provided a trading update detailing the impact of COVID-19 on its operational and financial performance. The second quarter of 2020 was particularly weak, but there was improvement in June that has continued into the third quarter. Despite this recovery, key indicators are still significantly below pre-COVID levels. Millicom is set to report its Q3 2020 results on October 30, 2020.

Millicom International Cellular has announced a proposed offering of $500 million in senior notes due 2031. The proceeds will be used to redeem the existing 6.0% senior notes due 2025 at a redemption price of 103% of their principal, plus interest. The anticipated redemption date is October 29, 2020. This offering is aimed at qualified institutional buyers and non-U.S. investors. The completion of this transaction is necessary for the planned redemption.

Millicom International Cellular has established a Nomination Committee in preparation for its 2021 Annual General Meeting. The Committee includes representatives from major shareholders such as Swedbank Robur, Nordea Investment Funds, AMF Pensionsförsäkring AB, and Southeastern Asset Management. During its inaugural meeting on October 5, 2020, John Hernander was elected as the Chairman. Shareholders wishing to propose candidates for the Board of Directors can submit their suggestions in writing.

Millicom will report its third quarter 2020 results on October 30, 2020, at approximately 11:00 Stockholm time. The announcement will be made via a press release. A conference call for the global financial community is scheduled the same day at 13:00 Stockholm time, which will be webcasted. Investors can access the call by dialing in 5-10 minutes early, with specific numbers provided for various regions. A replay will be available for seven days post-call. Millicom is a leading provider of cable and mobile services in emerging markets.