Core Viewpoint - Millicom International Cellular S.A. is convening its annual general meeting (AGM) on May 20, 2026, to discuss key agenda items including the approval of financial reports, dividend distribution, and the election of directors [2][3]. Group 1: AGM Details - The AGM will take place at Luxembourg Marriott Hotel on May 20, 2026, at 1:00 p.m. CET [2]. - Shareholders must be registered with Broadridge by May 6, 2026, to participate and vote [9][10]. - The agenda includes the election of the chair, management reports, approval of annual accounts, and dividend distribution [5][6]. Group 2: Financial Performance and Dividend - Millicom reported a profit of USD 1,203,488,812 for the fiscal year ended December 31, 2025, with unappropriated net profits carried forward of USD 1,516,871,900 [31]. - The Board proposes a dividend of USD 3 per share, to be paid in four equal installments totaling approximately USD 507 million, scheduled for July 15, 2026, October 15, 2026, January 15, 2027, and April 15, 2027 [34][36]. - The company confirms sufficient reserves to distribute the proposed annual dividend, subject to no losses incurred from January 1, 2026 [36]. Group 3: Director Elections and Remuneration - The Board proposes to set the number of directors at eight and re-elect several current directors for a term ending at the 2027 AGM [43]. - Directors' remuneration for the period from the AGM to the 2027 AGM is proposed to remain unchanged, totaling approximately USD 1,017,500 [48][49]. Group 4: Auditor and Share Repurchase Plan - KPMG is proposed to be re-elected as the external auditor for a term ending at the 2027 AGM [50]. - A share repurchase plan is proposed to allow Millicom to repurchase up to 10% of its outstanding shares, providing flexibility for long-term capital allocation [51][53].

Core Insights - Millicom International Cellular S.A. published its 2025 Annual Report, showcasing record financial results and an expanded regional footprint in Latin America [1][2] Financial Performance - The company achieved record financial results with $5.8 billion in revenue, $1.3 billion in net profit, and $916 million in Equity Free Cash Flow [3] - The significant financial performance reflects the company's long-term commitment to connecting customers and creating shareholder value [2][3] Regional Expansion - Millicom expanded its regional footprint through acquisitions in Ecuador and Uruguay, consolidation in Colombia, and entry into Chile [3] - The company aims to reinforce its position as a leading regional operator in Latin America, focusing on growth opportunities and digital inclusion [3] Company Overview - Millicom is a leading provider of fixed and mobile telecommunications services in Latin America, operating under the TIGO® and Tigo Business® brands [5] - As of December 31, 2025, the company employed approximately 15,000 people and served around 52 million customers, with a fiber-cable footprint covering over 14 million homes [5]

Core Insights - Millicom reported strong financial results for Q4 2025, marking a record-setting period and the strongest year in the company's history, with significant growth in revenue and profitability [6][9]. Financial Highlights - Q4 2025 revenue reached $1.652 billion, a 15.7% increase compared to Q4 2024, with organic growth of 4.7% [5]. - Operating profit for Q4 2025 was $469 million, up 25.7% year-on-year [5]. - Net profit attributable to company owners surged to $252 million in Q4 2025, compared to $31 million in Q4 2024 [5]. - Adjusted EBITDA for Q4 2025 was $778 million, reflecting a 25.9% increase year-on-year [5]. - Full-year 2025 revenue was $5.819 billion, a slight increase of 0.2% year-on-year, with organic growth of 2.0% [5]. - Full-year operating profit increased by 22.2% to $1.639 billion, and adjusted EBITDA rose 11.4% to $2.749 billion [5]. Operational Performance - The company achieved a record equity free cash flow (EFCF) of $278 million in Q4 2025, contributing to a total of $916 million for the full year, exceeding the target of $750 million [7][9]. - Leverage stood at 2.31x, maintaining a robust financial position despite recent acquisitions in Uruguay and Ecuador [7]. Strategic Developments - Millicom's strategy focused on migrating from prepaid to postpaid services and enhancing fixed-mobile convergence, which contributed to the growth in service revenue [6]. - The company completed significant transactions, including the sale of Lati towers for approximately $975 million and various infrastructure transactions that bolstered its financial agility [9]. - Looking ahead, Millicom targets an EFCF of at least $900 million for 2026, with year-end leverage expected around 2.5x [10]. Subsequent Events - Millicom signed a Share Purchase Agreement to sell its Mobile Finance business in Paraguay for a base price of $10 million, subject to regulatory approval [11]. - The company also completed several acquisitions, including a controlling stake in Colombia Telecomunicaciones S.A. for approximately $214 million [14].

Company Overview - Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America, offering a variety of digital services and products under the TIGO® and Tigo Business® brands [4] - The company provides mobile financial services through TIGO Money, local entertainment via TIGO Sports, pay TV with TIGO ONEtv, and business-to-business solutions including cloud and security [4] - As of September 30, 2025, Millicom employed approximately 14,000 people and served over 46 million customers, with a fiber-cable footprint covering more than 14 million homes [4] Upcoming Financial Results - Millicom is set to announce its fourth quarter 2025 results on February 26, 2026, through a press release [1] - A video conference for the global financial community will be held on the same day at 08:00 (New York) / 14:00 (Luxembourg) / 13:00 (London) [1] Event Participation - Registration for the interactive video conference is required, and participants will receive a confirmation email with joining details [2] - Participants can ask questions during the live event by notifying the Investor Relations team via email [2] - The conference can also be joined in listen-only mode through provided dial-in numbers and entering the Webinar ID: 869 1177 5553 [3]

Core Viewpoint - Millicom, in partnership with NJJ, has acquired Telefonica's operations in Chile, structured to enhance strategic value while safeguarding its balance sheet [1][4]. Acquisition Structure - The acquisition is a joint venture with Millicom holding 49% and NJJ holding 51% [1][4]. - An initial payment of $50 million will be made to Telefonica, with potential additional earn-out payments up to $150 million based on structural value creation [1][5]. - The acquired business will not be consolidated into Millicom's financial statements during the joint ownership, and its financial obligations are non-recourse to Millicom [2][5]. Financial Stability - Telefonica is required to contribute CLP 79 billion (approximately USD 92 million) at closing to ensure balance sheet stability [2][7]. - The structure allows Millicom to maintain financial flexibility while capturing long-term strategic presence in South America [7][11]. Strategic Rationale - Millicom will operate the business from day one, applying its operational expertise to stabilize and strengthen the asset [8]. - The partnership aims to enhance competitiveness, operational efficiency, and support sustained investment in network quality and digital services in Chile [9][10]. - The acquisition is seen as an opportunity to reposition a challenged asset in a significant market at an attractive valuation [9][10]. Future Options - Millicom has the option to acquire NJJ's stake in the business in Year 5 and 6 post-closing at a 10% discount to Millicom's trading multiples [3][6]. - If Millicom does not exercise its option, NJJ can acquire Millicom's 49% stake under similar pricing terms [6].

Core Insights - Millicom has successfully completed a tender offer to acquire Telefónica's controlling 67.5% equity stake in Colombia Telecomunicaciones S.A. E.S.P. (Coltel) for USD 214.4 million, with the closing of the acquisition expected on February 6, 2026 [1][2]. Industry Impact - The acquisition aims to strengthen Colombia's telecommunications sector by creating a financially solid operator capable of delivering critical upgrades in networks, spectrum, and technology, thereby enhancing access to advanced digital services and accelerating the rollout of fiber and 5G [3][4]. Company Strategy - Millicom intends to build a stronger telecommunications platform in Colombia, reinforcing competition and accelerating investment in next-generation infrastructure to support the country's digital transformation and sustainable development [4][5]. - The CEO of Millicom emphasized the importance of this acquisition in enhancing the company's scale, resilience, and investment capacity, which will facilitate faster deployment of fiber and 5G services, ultimately improving service quality for millions of Colombians [5]. Company Overview - Millicom is a leading provider of fixed and mobile telecommunications services in Latin America, operating under the TIGO® and Tigo Business® brands, and serving over 46 million customers with a fiber-cable footprint covering more than 14 million homes [8].

Core Insights - Millicom has successfully acquired 100% of EPM's remaining shares in UNE EPM Telecommunicaciones S.A. through a public auction [2][3] - The bid was priced at COP 418,741 per share, totaling approximately COP 2.1 trillion (around USD 571 million) [3] - This acquisition will increase Millicom's ownership in UNE to nearly 100%, enhancing operational efficiency and strategic integration in Colombia [3][4] Financial Details - The total consideration for the acquisition is approximately COP 2.1 trillion, equivalent to USD 571 million [3] - The transaction is set to close on January 29, 2026, in line with auction rules [4] Operational Impact - The acquisition will simplify Millicom's ownership structure, allowing for streamlined operations in Colombia [4] - Millicom aims to accelerate its strategic integration plans following the completion of this acquisition [4] Company Overview - Millicom is a leading provider of telecommunications services in Latin America, offering a range of digital services including mobile financial services and pay TV [5] - As of September 30, 2025, Millicom employed approximately 14,000 people and served over 46 million customers [5]

Core Insights - Millicom has successfully acquired 100% of EPM's remaining shares in UNE EPM Telecommunicaciones S.A. through a public auction, enhancing its ownership in UNE to nearly 100% [2][3] Financial Details - The bid was priced at COP 418,741 per share, totaling approximately COP 2.1 trillion (around USD 571 million) [3] Strategic Implications - The transaction is set to close on January 29, 2026, which will enable Millicom to streamline operations in Colombia and accelerate strategic integration plans [4] Company Overview - Millicom is a leading telecommunications provider in Latin America, offering a variety of digital services including mobile financial services, pay TV, and business solutions [6] - As of September 30, 2025, Millicom employed around 14,000 people and served over 46 million customers, with a fiber-cable footprint covering more than 14 million homes [6]

Core Viewpoint - Millicom International Cellular SA (TIGO) shares experienced a significant increase of 6.5% in the last trading session, closing at $56.03, following a period of 1.3% loss over the past four weeks, indicating a potential turnaround in investor sentiment [1][2]. Group 1: Stock Performance - TIGO shares surged due to strong trading volume, with more shares exchanged than usual, reflecting heightened investor interest [1]. - The stock's recent performance contrasts with the overall trend in the past month, where it had previously declined [1]. Group 2: Market Drivers - The uptrend in TIGO shares is attributed to renewed optimism surrounding mergers and acquisitions in Latin America, particularly the consolidation of Tigo with Telefónica assets in Colombia [2]. - TIGO is positioned to capitalize on market opportunities from fiber densification and a diverse range of digital services, including TIGO Money, TIGO Sports, and TIGO ONEtv [2]. Group 3: Earnings Expectations - The company is projected to report quarterly earnings of $1.05 per share, reflecting a substantial year-over-year increase of 425%, with revenues expected to reach $1.56 billion, a 9% increase from the previous year [3]. - The consensus EPS estimate for TIGO has remained stable over the last 30 days, suggesting that stock price movements may be influenced by future earnings estimate revisions [4]. Group 4: Industry Context - Millicom International Cellular is part of the Zacks Wireless Non-US industry, where it holds a Zacks Rank of 1 (Strong Buy), indicating strong market confidence [4]. - In comparison, Amer Movil (AMX), another company in the same industry, saw a decline of 3.2% in its last trading session and has a Zacks Rank of 2 (Buy) [5].

Core Viewpoint - Millicom International Cellular S.A. has resolved a U.S. Department of Justice investigation regarding historical improper payments made by its subsidiary, Comunicaciones Celulares S.A. (Comcel), to Guatemalan government officials, with a focus on the company's commitment to ethical standards and compliance [1][2]. Summary by Sections Investigation Background - The investigation was first disclosed in May 2022, with Millicom having voluntarily self-reported alleged improper payments in 2015 and fully cooperating with authorities [2][3]. - Millicom lacked operational control over Comcel until acquiring full ownership in November 2021, which limited visibility into Comcel's actions [5]. Compliance and Remediation Efforts - Following the self-disclosure, Millicom invested significantly in enhancing its global corporate compliance program, which was implemented in Guatemala after full ownership of Comcel [4][6]. - Major remediation steps included the exit of personnel involved in misconduct at Comcel [6]. Resolution Details - The investigation concluded with a deferred prosecution agreement (DPA) between Comcel and the DOJ, lasting two years instead of the standard three, due to Millicom's extensive cooperation and compliance efforts [7]. - Comcel will pay a $60 million fine and forfeit approximately $58.2 million in benefits from the improper payments, with the fine reflecting a 50% discount off the minimum penalty range under U.S. Sentencing Guidelines [8]. Company Commitment - Millicom has consistently acted as a responsible and transparent company, emphasizing its commitment to high ethical standards and operational transparency since gaining control of Comcel [9]. - The company aims to continue its focus on connecting people and driving digital inclusion in the markets it serves [9].