Millicom International Cellular S.A. (TIGO) SEC Filings & Earnings Calls
EquiReason read 28 Millicom International Cellular S.A. SEC filings in the last 12 months. Latest: SC 13D/A on 2026-09-24 — Atlas Investissement increased its beneficial ownership to 49.5% and intends to purchase additional shares up to 50.5% of Millicom International Cellular S.A..
Source: SEC EDGAR filings · read by EquiReason
- Market cap
- 13.2B
- Annual P/E
- —
- Dividend yield
- 7.9%
- 52-week
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- Next earnings
- 5 Nov, in 12 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
24 Sep 2026SC 13D/AAtlas Investissement increased its beneficial ownership to 49.5% and intends to purchase additional shares up to 50.5% of Millicom International Cellular S.A.open
Figures in the filing · each found in the filing text
| Beneficial Ownership Percent · 2026-09-22 | 49.5% |
6 Aug 20266-KMillicom Q2 2026 revenue increased 52.3% YoY to $4,164M in H1 2026, driven by Coltel acquisition and FX tailwinds.open
Figures in the filing · each found in the filing text
| Revenue · H1-2026 | $4.16B | +52% y/y |
Risks flagged
Foreign exchange rate fluctuations and high inflation in Latin American markets pose risk.
“global economic conditions, foreign exchange rate fluctuations and high inflation, as well as local economic conditions in the markets we serve” · word for word
Integration risks from recent acquisitions may impact future performance.
“our ability to successfully pursue acquisitions, investments or merger opportunities, integrate any acquired businesses in a timely and cost-effective manner” · word for word
29 Jun 2026SC 13D/AAtlas Investissement increased its financing by ~$360.8M and entered a derivative to acquire up to 6M additional Millicom shares, raising its potential stake to 49.5%.open
Figures in the filing · each found in the filing text
| Beneficial Ownership Percentage · 2026-06-29 | 49.5% |
Risks flagged
Leverage and financing risk
“The financing is secured by pledges over Common Shares and involves margin call mechanisms, indicating potential forced selling if share price declines.”
29 Jun 2026SC 13D/AAtlas Investissement increased its financing by ~$360.8M and entered a derivative to acquire up to 6M additional Millicom shares, raising its potential stake to 49.5%.open
Figures in the filing · each found in the filing text
| Beneficial Ownership Percentage · 2026-06-29 | 49.5% |
Risks flagged
Leverage and financing risk
“The financing is secured by pledges over Common Shares and involves margin call mechanisms, indicating potential forced selling if share price declines.”
21 May 20266-KMillicom (Tigo) held its AGM; all resolutions passed including re-election of directors, dividend of $3/share, and share repurchase plan. No material financial or operational changes.open
Figures in the filing · each found in the filing text
| dividend per share · FY2025 | $3.00 |
14 May 20266-KMillicom Q1 2026 revenue $1,985M (up 45% y/y) driven by Coltel acquisition; operating profit $416M, net income $75M; EPS $0.65 vs $1.14 prior year (lower due to acquisition costs and NCI).open
Risks flagged
Integration risks from recent acquisitions may pressure margins and increase debt.
“Note: Coltel consolidation and other acquisitions; debt increased to $7,393M from $6,556M.”
17 Apr 20266-KMillicom subsidiary Telecel Paraguay announces intent to redeem all outstanding $139.7M 5.875% Senior Notes due 2027 on April 29, 2026.open
Figures in the filing · each found in the filing text
| Aggregate principal amount of Notes redeemed | $140M |
Risks flagged
No material risk; debt redemption is credit positive.
“Redeeming debt at par reduces leverage and interest cost.”
2 Apr 20266-KMillicom prices $75M tap of 7.375% Senior Notes due 2032 at 100.985% of par; proceeds for general corporate purposes including capex and M&A. Total notes outstanding now $525M.open
Figures in the filing · each found in the filing text
| Aggregate principal amount of Additional Notes | $75M | |
| Total outstanding Notes after issuance | $525M |
Risks flagged
Increased leverage; high coupon (7.375%) adds interest cost.
“Issuing $75M of 7.375% senior notes increases debt and interest expense.”
27 Mar 2026SC 13D/AAtlas Investissement (Xavier Niel) upsized equity financing by ~$190M and entered a new equity derivative to acquire up to 3.25M additional Millicom shares, increasing its beneficial ownership to 46.0%.open
Figures in the filing · each found in the filing text
| Beneficial ownership percentage · 2026-03-27 | 46.0% | |
| Additional shares to be purchased · 2026-06-30 | 3,250,000 | |
| Upsize amount · 2026-03-27 | $190M |
27 Mar 2026SC 13D/AAtlas Investissement (Xavier Niel) upsized equity financing by ~$190M and entered a new equity derivative to acquire up to 3.25M additional Millicom shares, increasing its beneficial ownership to 46.0%.open
Figures in the filing · each found in the filing text
| Beneficial ownership percentage · 2026-03-27 | 46.0% | |
| Additional shares to be purchased · 2026-06-30 | 3,250,000 | |
| Upsize amount · 2026-03-27 | $190M |
26 Mar 20266-KMillicom International Cellular S.A. filed a 6-K with a convening notice for its Annual General Meeting, including dividend proposal and director elections.open
Figures in the filing · each found in the filing text
| Dividend per share · FY2026 | $3.00 |
24 Mar 202620-FAnnual report (20-F) filed by Millicom International Cellular S.A. for fiscal year 2025, containing risk factors and business updates but no specific earnings or guidance event.open
Risks flagged
High leverage and debt service requirements from Guatemala acquisition
“Our leverage and debt service requirements may make it more difficult for us to capitalize on changes in market conditions or other strategic opportunities.” · word for word
Regulatory risk from increased market share in Colombia
“Additionally, our increased market share may lead to more stringent regulatory oversight or the imposition of asymmetric regulations by Colombian authorities, which could limit our competitive flexibility.” · word for word
Dependence on cash flows from Guatemala
“our dependency on cash flows from our operations in Guatemala” · word for word
13 Mar 2026SC 13D/AAtlas Investissement enters equity derivative to purchase up to 3,350,000 additional shares by June 30, 2026, increasing its already controlling 44.1% stake.open
Figures in the filing · each found in the filing text
| Beneficial Ownership · 2026-03-11 | 44.1% |
13 Mar 2026SC 13D/AAtlas Investissement enters equity derivative to purchase up to 3,350,000 additional shares by June 30, 2026, increasing its already controlling 44.1% stake.open
Figures in the filing · each found in the filing text
| Beneficial Ownership · 2026-03-11 | 44.1% |
26 Feb 20266-KMillicom reports FY2025 revenue of $5.819B (flat YoY) but operating profit up 22% to $1.639B, net profit up 408% to $1.362B driven by $741M gain on sale of Lati Operations. Q4 revenue $1.652B (+16% YoY).open
Figures in the filing · each found in the filing text
| Revenue · Q4-2025 | $1.65B | +16% y/y |
| Operating profit · Q4-2025 | $469M | +26% y/y |
| Net profit · Q4-2025 | $266M | +432% y/y |
| Full-year revenue · FY2025 | $5.82B | +0% y/y |
| Full-year operating profit · FY2025 | $1.64B | +22% y/y |
| Full-year net profit · FY2025 | $1.36B | +408% y/y |
| Basic EPS · Q4-2025 | $1.51 | +739% y/y |
| Full-year basic EPS · FY2025 | $7.86 | +435% y/y |
| Gain on sale of Lati Operations · FY2025 | $741M | |
| Cash and cash equivalents · Q4-2025 | $1.55B | +122% y/y |
Risks flagged
Full-year revenue growth was only 0.3%, indicating underlying business challenges despite Q4 strength.
“Revenue...5,819 (twelve months ended Dec 31, 2025)...5,804 (twelve months ended Dec 31, 2024)”
10 Feb 20266-KMillicom (Tigo) announces joint acquisition of Telefonica's Chilean operations with NJJ in a 49%/51% partnership. Initial payment $50 million plus earn-out up to $150 million. Non-recourse structure protects Millicom's balance sheet. Stratebeing acquiredopen
Risks flagged
Transaction involves integration risk and potential earn-out payments, but structure limits downside.
“Transaction structured with an initial closing payment of $50 million and additional earn-out consideration up to $150 million based on structural value creation and not guaranteed by Millicom.” · word for word
6 Feb 20266-KMillicom successfully concluded tender offer for 67.5% controlling stake in Colombia Telecomunicaciones (Coltel) for $214.4M, expected to close Feb 6, 2026.acquisitionopen
Risks flagged
Regulatory approval risk for Phase 2 privatization process.
“Millicom is now awaiting Phase 2 of the privatization process launched by La Nación to acquire the remaining shares, expected around April.” · word for word
30 Jan 20266-KMillicom (Tigo) won a bid to acquire EPM's remaining stake in UNE for ~COP 2.1 trillion (~USD 571 million), consolidating ownership to nearly 100% and enabling operational streamlining in Colombia.acquisitionopen
Figures in the filing · each found in the filing text
| Consideration | $571M |
12 Nov 20256-KMillicom International Cellular S.A. filed a 6-K announcing that its subsidiary Comcel reached a deferred prosecution agreement with the DOJ to resolve an investigation into historical improper payments, agreeing to pay a $60 million fine aopen
Figures in the filing · each found in the filing text
| Fine | $60M | |
| Forfeiture | $58M |
Risks flagged
Legal and compliance risk resolved with significant financial impact, but no ongoing monitor.
“DPA with $118.2M total cost, but reflects cooperation and remediation.”
6 Nov 20256-KQ3 2025 results: revenue $1,420M (flat), operating profit $390M (+30%), net profit $204M (+258% YoY). Includes $138M gain from sale of Lati Operations.open
Figures in the filing · each found in the filing text
| Revenue · Q3-2025 | $1.42B | -1% y/y |
| Operating Profit · Q3-2025 | $390M | +30% y/y |
| Net Profit · Q3-2025 | $204M | +258% y/y |
| Diluted EPS · Q3-2025 | $1.16 | +287% y/y |
Risks flagged
Profit includes one-time gain on sale of Lati Operations ($138M in Q3), which may not be recurring.
“Sale of Lati Operations 138 (Q3 2025) vs 0 (Q3 2024)”
31 Oct 20256-KMillicom (Tigo) completes USD 380 million acquisition of Telefónica Ecuador, expanding into a new high-potential market with stable dollarized economy.acquisitionopen
Figures in the filing · each found in the filing text
| Acquisition price · Q4-2025 | $380M |
Risks flagged
Integration risk in a new market; execution and regulatory risks moderate.
“Entry into Ecuador, a new country for Millicom; integration of Telefónica's operations required.”
Millicom International Cellular S.A. — questions
- What did Millicom International Cellular S.A. file recently?
- 28 SEC filings in the last 12 months. Latest: SC 13D/A on 2026-09-24 — Atlas Investissement increased its beneficial ownership to 49.5% and intends to purchase additional shares up to 50.5% of Millicom International Cellular S.A.
Every figure on this page comes from Millicom International Cellular S.A.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.