Atlas is exploring financing options to support a potential all-cash tender offer for all outstanding shares in Millicom at a price of US$24 per share, and its SEK equivalent per SDR.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 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 |
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
Independent committee of Millicom (Tigo) board believes anticipated takeover offer by Atlas at a price of US$24 per share would significantly undervalue Millicom in light of expected financial performance Luxembourg, June 27, 2024 – A committee of independent members of the Board of Directors of Millicom International Cellular S.A. ("Millicom") confirms that it has been in communication with one of Millicom's shareholders, Atlas Luxco S.à r.l and its affiliates ("Atlas"), regarding the anticipated all-cash tender offer by Atlas for all outstanding shares and SDRs in Millicom which Atlas does not currently own at a price of US$24 per share (and the SEK equivalent per SDR). Following d
Millicom's (Tigo) Independent CommitteeIssued Recommendation Under U.S. and Swedish Rules That Shareholders and SRD Holders Rejectthe Tender Offers Made by Atlas Luxco S.à r.lLuxembourg, 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"; holders of c
HSBC analyst Phani Kanumuri downgrades Millicom Intl Cellular (NASDAQ:TIGO) from Buy to Hold.
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
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
6-K - MILLICOM INTERNATIONAL CELLULAR SA (0000912958) (Filer)
6-K - MILLICOM INTERNATIONAL CELLULAR SA (0000912958) (Filer)
6-K - MILLICOM INTERNATIONAL CELLULAR SA (0000912958) (Filer)
SC 13D/A - MILLICOM INTERNATIONAL CELLULAR SA (0000912958) (Subject)
SC 13D/A - MILLICOM INTERNATIONAL CELLULAR SA (0000912958) (Subject)
SC 13D/A - MILLICOM INTERNATIONAL CELLULAR SA (0000912958) (Subject)
Notification of transaction by a closely associated person of a Director of Millicom (Tigo) Luxembourg, November 13, 2024 – Millicom International Cellular S.A. ("Millicom") announces that, on November 7, 2024, Atlas Luxco S.à r.l. ("Atlas") a person closely associated ("PCA") with Jules Niel, a member of Millicom's Board of Directors, acquired 40,089 Millicom Swedish Depository Receipts (SDRs) in the open market at an average price of SEK 280.4 per share (the "Acquisition"). 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 t
Notification of share transaction by Director of Millicom (Tigo) shares Luxembourg, November 8, 2024 – Millicom International Cellular S.A. ("Millicom") announces that, on November 8, 2024, Tomas Eliasson, Director of Millicom, sold 17,269 Millicom Swedish Depository Receipts (SDRs) in the open market at an average price of SEK 289.19 per share. Mr. Eliasson now directly owns no shares. Details of the transaction are disclosed on Millicom's website. For further information, please contact: Press: Sofía Corral, Director Corporate Communications [email protected] Investors: Michel Morin, VP Investor Relations [email protected]
Millicom (Tigo) Q3 2024 Earnings Release Luxembourg, November 7, 2024 – Millicom is pleased to announce its third quarter 2024 results. Please find below links to the Q3 2024 Earnings Release and IAS 34 Interim Condensed Consolidated Financial Statements. Highlights* Revenue $1.43 billion up 0.5% - Service Revenue up 1.8% (2.4% organically) Robust commercial activity: 299,000 Postpaid Mobile and 68,000 Home FTTH/HFC net additionsOperating profit $300 million, up 43.1% EBITDA $585 million, up 9.8% Net income $51 million ($0.30 per share)Equity free cash flow $271 million, up from $100 million in Q3 2023 Leverage 2.59x, down 0.18x from 2.77x at Q2 Financial highlights ($ millions)