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 announced the repurchase of 81,309 shares from August 5 to August 11, 2021, as part of a program initiated on July 29, 2021. The total value of shares repurchased during this period was approximately SEK 27,826,520.21. Post-purchases, Millicom holds 312,964 treasury shares, out of 101,739,217 shares outstanding. The repurchase program allows for up to SEK 870 million (around USD 100 million) or 5 million SDRs. This initiative aims to enhance shareholder value and confidence in future growth.
Millicom announced the repurchase of 53,100 Swedish Depository Receipts (SDRs) from August 2 to August 4, 2021, as part of a buyback program launched on July 29, 2021. The weighted average prices for the shares ranged from SEK 342.43 to SEK 345.47. The total repurchase program allows for purchases up to SEK 870 million (approximately USD 100 million) or 5,000,000 SDRs. Following these transactions, Millicom holds 231,655 treasury shares, with a total of 101,739,217 shares outstanding.
Millicom has authorized a share repurchase program for up to 5,000,000 Swedish Depository Receipts (SDRs) as per the resolution from the Annual General Meeting on May 4, 2021. The purpose of the buyback includes reducing share capital and fulfilling obligations under incentive plans. The program will run from August 2, 2021, until the next AGM in 2022, with total repurchases capped at SEK 870 million (approximately USD 100 million). Trading will comply with Nasdaq Nordic regulations and will be managed by an independent investment firm.
Millicom announced strong second quarter 2021 results, achieving double-digit growth in service revenue and EBITDA. The company leads the Colombian market with the best mobile network and a record number of new postpaid customers. Millicom is resuming shareholder remuneration with a $100 million share buyback program, citing excellent share value and healthy cash flow. The company aims for mid-single-digit service revenue growth and approximately 10% OCF growth over the medium term.
Millicom hosted a significant meeting on July 15, 2021, between President Cortizo Cohen and CEO Mauricio Ramos, solidifying TIGO's long-term investment commitment to Panama. The company plans to invest approximately $250 million during 2021-2022 to modernize and expand its telecommunications infrastructure.
This investment aims to enhance connectivity and increase mobile financial services, including the establishment of a Fintech Hub in Panama, which is expected to benefit over 800,000 Panamanians.
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.