Millicom International Cellular S.A. provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance. It also provides cable and other fixed services, including broadband,content, fixed voice, and pay-TV to residential consumers; and fixed, managed services, cloud and security solutions, and value-added services to small, medium, and large businesses, as well as governmental entities. As of December 31, 2020, the company served 55 million mobile customers; and 12 million homes. It markets its products and services under Tigo and Tigo Business brands. The company was founded in 1990 and is headquartered in Luxembourg.
IPO Year:
Exchange: NASDAQ
Website: millicom.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/29/2025 | $32.00 | Equal-Weight | Morgan Stanley |
| 1/22/2025 | $34.00 | Hold → Buy | HSBC Securities |
| 9/20/2024 | Sector Perform → Sector Outperform | Scotiabank | |
| 9/6/2024 | $35.00 | Overweight | JP Morgan |
| 8/15/2024 | Neutral → Buy | UBS | |
| 8/7/2024 | Sector Outperform → Sector Perform | Scotiabank | |
| 7/2/2024 | Buy → Hold | HSBC Securities | |
| 5/28/2024 | $30.00 | Overweight | JP Morgan |
| 3/28/2024 | Neutral → Overweight | JP Morgan | |
| 2/29/2024 | $20.00 → $24.00 | Neutral → Buy | New Street |
Millicom (Tigo) to Acquire Telefónica's Operations in Uruguay for USD 440 Million, Expanding Presence in South America Key Highlights: Acquisition strengthens Millicom's presence and scale across South America.Expected to be EFCF accretive starting in 2026.Diversifies Millicom's cash flow sources in a country with a favorable macroeconomic outlook and investment-grade credit rating.Significant synergies anticipated across network, operations, and commercial integration.Positive market outlook supported by a stable regulatory environment and strong mobile market fundamentals, providing a solid foundation for sustainable growth. Luxembourg, May 21, 2025 — Millicom International Cellular S.A
Millicom (Tigo) cancels 3,096,305 treasury shares Luxembourg, May 21, 2025 – The Board of Directors of Millicom International Cellular S.A. ("Millicom" or the "Company") approved the cancellation of 3,096,305 shares that will not be used for compensation programs, pursuant to the authorization granted by the extraordinary general meeting of shareholders held today and the share repurchase plan approved by the annual general meeting of shareholders held on May 23, 2024. As a result, the Company's issued share capital will be reduced to USD 253,500,000, represented by 169,000,000 shares. Article 5 of the articles of association of Millicom will be amended as follows: "The Company has an
Results of the Millicom (Tigo) AGM and EGM held today Luxembourg, May 21, 2025 – Millicom International Cellular S.A. ("Millicom") held its Annual General Meeting ("AGM") and Extraordinary General Meeting ("EGM") of shareholders today. All of the AGM and EGM resolutions proposed by the Board of Directors and its Nomination Committee were adopted by Millicom's shareholders. Resolving in favor of all the Nomination Committee's proposals, the AGM set the number of directors at eight and re-elected María Teresa Arnal, Bruce Churchill, Blanca Treviño de Vega, Jules Niel, Pierre-Emmanuel Durand, Maxime Lombardini, and Justine Dimovic as Directors, and elected Pierre Alain Allemand as a new Di
Millicom (Tigo) Q1 2025 Earnings Release Luxembourg, May 8, 2025 – Millicom is pleased to announce its first quarter 2025 results. Please find below links to the Q1 2025 Earnings Release and IAS 34 Interim Condensed Consolidated Financial Statements. Q1 2025 Highlights* Revenue $1.37 billion Operating profit $423 million, and Adjusted EBITDA $636 million Net income $193 million, including approximately $95 million in one-time gains Equity free cash flow $135 million, excluding $42 million of net proceeds from disposals - leverage 2.47x Robust customer net additions: 262,000 Postpaid Mobile and 62,000 Home FTTH/HFC Financial highlights ($ millions) Q1 2025
Millicom (Tigo) notice of first quarter 2025 results and video conference Luxembourg, April 29, 2025 – Millicom expects to announce its first quarter 2025 results on May 8, 2025, via a press release. Millicom is planning to host a video conference for the global financial community on May 8, 2025, at 14:00 pm (Luxembourg) / 13:00 (London) / 08:00 (Miami). Registration for the interactive event is required at the following link. Participants may also join the conference in listen-only mode by dialing any of the following numbers and entering the Webinar ID: 844 3411 0044 US: +1 929 205 6099 Sweden: +46 850 539 728 UK: +44 330 088 5830
SEB informs Millicom (Tigo) it has completed the sale of shares Luxembourg, April 23, 2025 – Millicom International Cellular S.A. ("Millicom") completed the delisting of its Swedish Depositary Receipts (SDRs) from Nasdaq Stockholm on March 17, 2025, resulting in the Nasdaq Stock Market in the United States being the sole exchange where its common shares are listed. SEB, the SDR program custodian bank, informed Millicom today that it has completed the sale of approximately 5,110,103 shares underlying the SDRs that had not been withdrawn by the SDR holders prior to the delisting. Net proceeds from the sales are expected to be distributed pro rata to these former SDR holders in early May. -E
Convening Notice for Annual General Meeting and Extraordinary General Meeting of Shareholders MILLICOM INTERNATIONAL CELLULAR S.A.Registered Address:148-150, Boulevard de la Pétrusse L-2330, Grand Duchy of Luxembourg– R.C.S. Luxembourg: B40630 – I. NOTICE The annual general meeting ("AGM") and subsequent extraordinary general meeting ("EGM") of the shareholders of MILLICOM INTERNATIONAL CELLULAR S.A. ("Millicom" or the "Company") is hereby convened to be held at Novotel Luxembourg Centre 35 Rue du Laboratoire | L-1911 Luxembourg on Wednesday, May 21, 2025, at 1:00 p.m. Central European Time ("CET"). To attend the AGM and EGM or vote by proxy, please follow the
Millicom (Tigo) releases its 2024 Annual Report, marking a year of transformation in Latin America's telecommunications industry Luxembourg, April 08, 2025 –Millicom, a leading provider of fixed and mobile services in Latin America, announces today the release of its 2024 Annual Report, which includes the standalone financial statements of Millicom International Cellular S.A. for the year 2024. This year's report reflects a period of profound transformation for the company, driven by a renewed strategic focus, operational efficiency, and a commitment to expanding digital inclusion across Latin America. "Millicom (Tigo) is uniquely positioned to seize the opportunities this new era presen
Millicom (Tigo) completes delisting from Nasdaq Stockholm and SEB informs Millicom of its intent to initiate the sale of shares not withdrawn from SDR program Luxembourg, March 24, 2025 – Millicom International Cellular S.A. ("Millicom"), has completed the delisting of its Swedish Depositary Receipts (SDRs) from Nasdaq Stockholm, in line with previous communications. The last day of trading was March 17, 2025. As of March 24, 2025, SEB, the custodian bank for SDRs, informed Millicom that holders of SDRs representing approximately 5,110,103 underlying common shares had not taken all the steps needed to withdraw the shares underlying their SDRs(1). In compliance with the SDR terms and cond
Notification of transaction by a closely associated person of a Director of Millicom (Tigo) Luxembourg, March 20, 2025 – Millicom International Cellular S.A. ("Millicom") announces that, on March 17, 2025, Atlas S.A.S. ("Atlas") a person closely associated ("PCA") with Jules Niel, a member of Millicom's Board of Directors, informed that it acquired 344,797 Millicom Swedish Depository Receipts (SDRs) in Nasdaq Stockholm (the "Acquisition") at an average price of SEK 299.77 per SDR. The Acquisition by Atlas was made via a mandate given to an investment bank to purchase SDRs on behalf and for the account of the PCA, ensuring that individuals making investment decisions do not have access to
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Morgan Stanley initiated coverage of Millicom International Cellular with a rating of Equal-Weight and set a new price target of $32.00
HSBC Securities upgraded Millicom International Cellular from Hold to Buy and set a new price target of $34.00
Scotiabank upgraded Millicom International Cellular from Sector Perform to Sector Outperform
JP Morgan resumed coverage of Millicom International Cellular with a rating of Overweight and set a new price target of $35.00
UBS upgraded Millicom International Cellular from Neutral to Buy
Scotiabank downgraded Millicom International Cellular from Sector Outperform to Sector Perform
HSBC Securities downgraded Millicom International Cellular from Buy to Hold
JP Morgan initiated coverage of Millicom International Cellular with a rating of Overweight and set a new price target of $30.00
JP Morgan upgraded Millicom International Cellular from Neutral to Overweight
New Street upgraded Millicom International Cellular from Neutral to Buy and set a new price target of $24.00 from $20.00 previously
Millicom (Tigo) and SBA Communications agree to long-term partnership in Central America Luxembourg, October 28, 2024 – Millicom International Cellular S.A. (NASDAQ:TIGO) announces today that it has entered into an agreement with SBA Communications Corporation (NASDAQ:SBAC) to sell and leaseback a tower portfolio of approximately 7,000 towers in Guatemala, Honduras, Panama, El Salvador and Nicaragua for a total consideration of approximately $975 million, plus an earn-out contingent on achieving certain financial performance metrics. In addition, the parties have agreed to enter into a build-to-suit agreement under which SBA Communications will build up to 2,500 addi
Millicom (Tigo) Board of Directors Appoints Marcelo Benitez as CEO Luxembourg, April 25, 2024 – Millicom announced today that its Board of Directors has appointed Marcelo Benitez as CEO of Millicom, effective June 1, 2024. Benitez has had a distinguished career with Millicom, having joined the company in Paraguay nearly 30 years ago and risen through the Company's ranks to his most recent role as CEO of TIGO Panama. Benitez's selection completes the final phase of a succession planning and selection process, which included a thorough evaluation of internal and external candidates to ensure that the company's next CEO possesses the vision, experience, talent and lea
Millicom (Tigo) announces a new appointment in its executive team Luxembourg, March 22, 2024 – Today, Millicom announced that Sheldon Bruha will be stepping down from the role of Chief Financial Officer (CFO), effective on April 15th, as part of a planned succession process. Sheldon will be succeeded as CFO by Bart Vanhaeren, currently VP Corporate Finance at Millicom. Sheldon will continue to serve as an advisor to Millicom through June 30, 2024 to ensure a continued smooth and organized transition. Sheldon joined the Company as CFO at the beginning of 2022 and, among other key successfully executed initiatives, has played an instrumental role in driving Project Everest, the Company's cos
Millicom (Tigo) appoints Aude Durand to its Board of Directors Luxembourg, February 26, 2024 –Millicom announces the appointment of Aude Durand to its Board of Directors, effective today. In accordance with Millicom's Articles of Association, Millicom's Board of Directors, with the approval of Millicom's Nomination Committee, has appointed Ms. Durand to fill the vacant Board position created by the tragic passing of Nicolas Jaeger until the company's next Annual General Meeting of shareholders.Aude Durand has strong experience in the telecommunications industry. She currently serves as Deputy CEO at iliad Holding, where she is involved in key projects across iliad's telecom operators
Meeting between President Cortizo Cohen and Mauricio Ramos, CEO of Millicom, strengthens Tigo's commitment and long-term investment in Panama Millicom|TIGO's commitment to infrastructure modernization and investment in Panama, which Millicom has chosen for its regional Fintech Hub, to be strengthened with a further investment of $250 million. Luxembourg, July 15, 2021 – Millicom, a leading provider of fixed and mobile services in Latin America, operating under the TIGO brand, announced an important meeting that was held today between the President of the Republic of Panama, Laurentino Cortizo Cohen, and Millicom CEO, Mauricio Ramos. During the meeting, Mauricio Ramos presented
LONDON--(BUSINESS WIRE)--Regulatory News: Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) (the “Company”) today issued the PSH annual report and financial statements for the year ended December 31, 2020, which are now available on PSH’s website, https://www.pershingsquareholdings.com/company-reports/financial-statements/. PSH also announced that its Annual General Meeting of Shareholders (“AGM”) will be held on Wednesday, April 28, 2021, at 12:00 PM BST. Pursuant to mandatory measures announced by the States of Guernsey to reduce the transmission of COVID-19, any persons arriving into the Bailiwick of Guernsey are required to self-isolate for a period of up to 14 days u
Results of the Millicom (Tigo) AGM and EGM held today Luxembourg, May 21, 2025 – Millicom International Cellular S.A. ("Millicom") held its Annual General Meeting ("AGM") and Extraordinary General Meeting ("EGM") of shareholders today. All of the AGM and EGM resolutions proposed by the Board of Directors and its Nomination Committee were adopted by Millicom's shareholders. Resolving in favor of all the Nomination Committee's proposals, the AGM set the number of directors at eight and re-elected María Teresa Arnal, Bruce Churchill, Blanca Treviño de Vega, Jules Niel, Pierre-Emmanuel Durand, Maxime Lombardini, and Justine Dimovic as Directors, and elected Pierre Alain Allemand as a new Di
Convening Notice for Annual General Meeting and Extraordinary General Meeting of Shareholders MILLICOM INTERNATIONAL CELLULAR S.A.Registered Address:148-150, Boulevard de la Pétrusse L-2330, Grand Duchy of Luxembourg– R.C.S. Luxembourg: B40630 – I. NOTICE The annual general meeting ("AGM") and subsequent extraordinary general meeting ("EGM") of the shareholders of MILLICOM INTERNATIONAL CELLULAR S.A. ("Millicom" or the "Company") is hereby convened to be held at Novotel Luxembourg Centre 35 Rue du Laboratoire | L-1911 Luxembourg on Wednesday, May 21, 2025, at 1:00 p.m. Central European Time ("CET"). To attend the AGM and EGM or vote by proxy, please follow the
Millicom (Tigo) completes delisting from Nasdaq Stockholm and SEB informs Millicom of its intent to initiate the sale of shares not withdrawn from SDR program Luxembourg, March 24, 2025 – Millicom International Cellular S.A. ("Millicom"), has completed the delisting of its Swedish Depositary Receipts (SDRs) from Nasdaq Stockholm, in line with previous communications. The last day of trading was March 17, 2025. As of March 24, 2025, SEB, the custodian bank for SDRs, informed Millicom that holders of SDRs representing approximately 5,110,103 underlying common shares had not taken all the steps needed to withdraw the shares underlying their SDRs(1). In compliance with the SDR terms and cond
Nasdaq Stockholm approved the delisting of Millicom (Tigo) SDRs and set the last day of trading on March 17, 2025 Luxembourg, March 3, 2025 – Millicom International Cellular S.A. ("Millicom" or the "Company"), today formally applied for delisting of its Swedish Depository Receipts ("SDRs") from Nasdaq Stockholm. The delisting application was approved and Nasdaq Stockholm set the last day of trading (the "Delisting Effective Date") on March 17, 2025. Millicom reminds holders of SDRs that the delisting will result in the SDR program being terminated. To remain as shareholders of Millicom, SDR holders must convert1 their SDRs into common shares traded in Nasdaq Stock Market in the U.S. ("M
Millicom (Tigo) declares $0.75 per share interim dividend to be paid on April 15, 2025 Luxembourg, February 26, 2025 – In line with the press release published on January 14, 2025, the Board of Directors of Millicom International Cellular S.A. ("Millicom") approved the interim dividend of $0.75 per share to be paid on April 15, 2025 (the "Payment Date"). Other important dates and information relating to the Interim Dividend are as follows: Interim Dividend Record Date: the Interim Dividend will be paid to shareholders who are registered in the U.S. with Broadridge on April 8, 2025, at 23.59 CET;Ex-dividend Date: the last trading day on which shares acquired will be eligible to receive the
Millicom (Tigo) reiterates intention to consolidate listing of shares on NASDAQ U.S. by delisting SDRs from Nasdaq Stockholm Luxembourg, February 20, 2025 – As previously communicated on November 29, 2024, Millicom International Cellular S.A. ("Millicom") today reiterated that it intends to file a delisting application with Nasdaq Stockholm on March 3, 2025, which will result in the SDR program being terminated. The last day of trading for SDRs is estimated to be on or around March 17, 2025. The exact date will be decided by Nasdaq Stockholm upon approval of the delisting application. The Company anticipates that consolidating the listing of its shares onto one single exchange
Millicom (Tigo) announces new shareholder remuneration policy Luxembourg, January 14th, 2025 – Millicom International Cellular S.A. ("Millicom" or the "Company"), today announced that the Company's Board of Directors (the "Board") has approved a new shareholder remuneration policy under which it proposes to: resume regular cash dividends;sustain or grow cash dividends every year; andmaintain a prudent capital structure, with a long-term leverage target range of 2.0-2.5x With this policy, the Board aims to return capital to shareholders from the cashflow generation of the Company in a consistent and prudent manner that reflects the capital-intensive and highly-regulated nature of the busin
Millicom (Tigo) intends to consolidate listing of shares on NASDAQ U.S. by delisting SDRs from Nasdaq Stockholm and resumes shareholder remuneration Luxembourg, November 29, 2024 – Millicom International Cellular S.A. ("Millicom" or the "Company"), today announced that the Company's Board of Directors (the "Board") has approved the following corporate actions, to simplify the trading of its shares and to resume shareholder remuneration, supported by the Company's strong financial performance in 2024 and positive outlook for 2025 and beyond: Application for delisting of the Company's Swedish Depositary Receipts ("SDR") from Nasdaq Stockholm (to be made at the earliest end of February 2025)
The independent committee of the Board of Directors of Millicom (Tigo) continues to believe the public cash offers made by Atlas Luxco S.à r.l. significantly undervalue Millicom's shares and SDRs and reiterates recommendation not to tender (issued pursuant to the Swedish Takeover Rules) On August 2, 2024, Atlas Luxco S.à r.l. announced it has increased the offer price of its public cash offers from USD $24.00 to USD $25.75 per common share and SDR. The independent committee is of the unanimous opinion that the revised offers continue to significantly undervalue Millicom and recommends that shareholders and SDR holders not accept the offers. In evaluating the Offers at the Revised Offer Pri
Millicom's (Tigo) Independent Committee Issued Recommendation Under U.S. and Swedish Rules That Shareholders and SRD Holders Reject the Tender Offers Made by Atlas Luxco S.à r.l Luxembourg, July 15, 2024 – Millicom International Cellular S.A. ("Millicom") today announced that a committee of independent members of its Board of Directors (the "Independent Committee"), following deliberation and discussions with Millicom's financial advisors, has unanimously determined that the all-cash tender offers in the U.S. and Sweden (collectively, the "Offers") by Atlas Luxco S.à r.l and its affiliates ("Atlas") for all outstanding common shares and SDRs in Millicom (collectively, the "Shares"; holder