Key Developments: Millicom International Cellular SA (MIICF.PK)

MIICF.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

Millicom International Cellular SA reaffirms FY 2015 guidance
Thursday, 22 Oct 2015 02:28am EDT 

Millicom International Cellular SA:Says that its guidance for FY 2015 remains unchanged.Expects FY 2015 revenue between $6.8 billion and $7.2 billion.Expects FY 2015 EBITDA between $2.12 billion and $2.26 billion.  Full Article

Millicom says reports to authorities potential improper payments on behalf of its Guatemala JV
Wednesday, 21 Oct 2015 03:32pm EDT 

Millicom International Cellular SA:Says has reported to law enforcement authorities in the United States and Sweden potential improper payments made on behalf of the company's joint venture in Guatemala.Says a Special Committee of the Board of Directors made the decision in connection with an independent investigation being overseen by the Special Committee and conducted by international law firm Covington & Burling LLP, with the support of Millicom's management team.Says Millicom is committed to fully cooperating with the authorities. It is not possible at this time to predict the matter's likely duration or outcome.  Full Article

Millicom International Cellular SA gets 24 pct stake in Helios Towers Africa after shareholding reorganisation
Wednesday, 7 Oct 2015 09:00am EDT 

Millicom International Cellular SA:Receives a 24 pct stake in African towers company, Helios Towers Africa (HTA).Says as a result of a shareholding reorganisation, Millicom will exchange shares which were previously held in HTA's tower companies in Ghana, DRC and Tanzania, into shares in HTA's parent company.Says HTA recently raised $363 million in new equity from existing and new shareholders to fund acquisitions and new growth in existing markets.Says share exchange is being undertaken at the same valuation as the funding round.  Full Article

Millicom International Cellular SA Lowers FY 2015 guidance
Tuesday, 21 Jul 2015 02:34am EDT 

Millicom International Cellular SA:Says that it has rebased the guidance provided in Feb. 2015 to reflect impact of 7 pct. devaluation in the currency basket.Says with the exception of currency impact, the group's guidance remains unchanged.Says that with FX rates prevailing in July 2015, the company expects FY 20115 revenue between $6.8 and $7.2 billion and EBITDA between $2.12 and $2.26 billion.  Full Article

Millicom International Cellular SA signs agreement to acquire Zanzibar Telecom
Friday, 5 Jun 2015 02:00am EDT 

Millicom International Cellular SA:Says that it has signed a Share Purchase Agreement to acquire an 85 pct. stake in Zanzibar Telecom (Zantel) from Etisalat Group.Zantel is the mobile telecom operator on the islands of Zanzibar with 2014 gross revenues of $82 million and 1.7 million subscribers across Zanzibar and mainland Tanzania.It operates 2G and 3G services over 545 network sites, with 57MHz of spectrum(1) and has ownership rights to undersea fibre optic cable capacity.Zantel has an approximate 5 pct. share of the Tanzania mobile market.Millicom intends to retain and continue to operate the Zantel brand, while delivering cash flow growth by leveraging technical and operational efficiencies.Under the terms of the agreement Millicom will pay the total cash consideration of $1 and assume total debt obligations of $74 million.In addition Zantel will have up to $32 million in net current liabilities at closing.Millicom expects the EBITDA of Zantel to reach $25 million through a combination of bringing new products and services to the existing customer base and delivering greater efficiencies.  Full Article

Millicom International Cellular SA issues update regarding proposed merger with Telecable Costa Rica
Wednesday, 29 Apr 2015 09:11am EDT 

Millicom International Cellular SA:Confirmed that its petition to merge with TeleCable Económico TVE, S.A has not been sanctioned by regulators Superintendencia de Telecomunicaciones (SUTEL).Millicom is now reviewing the information provided by SUTEL including its option to appeal.  Full Article

Millicom International Cellular SA reaffirms FY 2015 guidance
Wednesday, 22 Apr 2015 02:17am EDT 

Millicom International Cellular SA:Sees FY 2015 revenue between $7.1 bln and $7.5 bln.Sees FY 2015 EBITDA between $2.20 bln and $2.35 bln.  Full Article

Millicom International Cellular SA issues 10 year corporate bond
Wednesday, 11 Mar 2015 03:00am EDT 

Millicom International Cellular SA:Issues $500 mln Dollar-denominated bond.Completes issuance of 10-year $500 mln bond with fixed coupon of 6 pct.Issuance was done at par.Intends to use proceeds to redeem remaining portion of 8 pct senior notes issued by it's subsidiary Telemovil Finance Co Ltd in 2010, to fund capex and for general corporate purposes.  Full Article

Millicom International Cellular SA appoints Chief Executive Officer
Tuesday, 3 Mar 2015 02:00am EST 

Millicom International Cellular SA:Appoints Mauricio Ramos as CEO with effect from 1 April.  Full Article

Millicom International Cellular SA proposes dividend
Tuesday, 3 Feb 2015 02:24am EST 

Millicom International Cellular SA:Says the board will propose the payment of a 2014 ordinary dividend of $2.64 per share.  Full Article

UPDATE 1-Millicom flags "potential improper payments", shares dive

* Company says will cooperate with authorities (Updates with CEO, investor, analyst, shares)

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