Millicom

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Millicom International Cellular SA
TypePublic
Nasdaq Stockholm: TIGO_SDB Nasdaq: TIGO
IndustryTelecommunications, Media
Founded1990 in Stockholm
Headquarters2 Rue du Fort Bourbon, Luxembourg
Area served
Latin America
Key people
Mauricio Ramos (CEO)
José Antonio Ríos García (Chairman of the Board)
ProductsMobile, cable, pay TV, broadband, Mobile Financial Services, B2B, online services
Revenue$6.206 billion in 2020 [1]
Number of employees
21,000 [2]
Websitewww.millicom.com

Millicom International Cellular SA (NASDAQ U.S.: TIGO, NASDAQ Stockholm: TIGO_SDB) is a telecommunications and media company which is a provider of fixed and mobile services dedicated to markets in Latin America. Millicom provides high-speed broadband and telecommunications services through its principal brand, TIGO.[3] As of December 31, 2020, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 55 million customers, with a cable footprint of more than 12 million homes passed.[4]

History[]

Tigo logo used since 2004

Millicom International Cellular SA was established on December 14, 1990, by Shelby Bryan, Jan Stenbeck, Telma Sosa, and Olvin Galdamez, combining the cellular telephone properties owned by Industriförvaltnings AB Kinnevik and Millicom Incorporated. Millicom is headquartered in Luxembourg with a United States corporate office in Miami. Tigo has its main headquarters in Medellin, Colombia. Through the Tigo and Tigo Business brands, Millicom provides digital services, including high-speed data, broadband, mobile, cable TV, voice and SMS, Mobile Financial Services, and business communications. Millicom serves customers in nine Latin American markets, including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Paraguay.[5][6]

After two years of planning, the company began operations when the founders completed a $131,000 share purchase in May 1982. The firm took over paging company Meta Systems in October 1982 and then raised $9 million in its first round of financing, managed by chief executive officer, Orhan Sadik-Khan and Kevin Kimberlin.[7][8][9] Since 92% of the world population had no phone service at the time, Millicom promoted mobile technology on a global basis.[10] To do this, Millicom created joint-ventures with local and strategic partners. On 13 December 1982, a joint-venture with Racal Electronics was awarded a cellular license for the United Kingdom. To enable Millicom to earn its 10% royalty from Racal-Millicom, a controlling shareholder, Stenbeck commissioned a startup with two employees, Technophone, to develop the world's first pocket-sized mobile phone.[11] Highlighting its plans to offer the Voice and Data phone (predecessor to the smartphone), his Racal-Millicom joint-venture was renamed Vodafone.[12]

On 12 October 1983, Millicom Inc. created China Telecom Systems (HK), a joint-venture with partners China Resources Ltd. and Comvik, a Swedish mobile firm also controlled by Jan Stenbeck.[13] China Telecom Systems (HK) held the first cellular telephone contract in China, making its service available to the public on 20 May 1985.[14] In December 1989, Millicom set up Microtel Communications Ltd. by teaming up with Pacific Telesis and British Aerospace (later bought out by Hutchinson Telecom.)[15] Microtel was awarded a personal communication network (PCN) license to compete with Vodafone in the United Kingdom, a service launched on 28 April 1994 under its brand name, Orange.[16] This venture was acquired in October 1999, at which time Orange and its new parent, Mannesmann, were in turn both taken over by Vodafone. At a value of $202 billion,[17] the takeover of Mannesmann by Vodafone was the largest transaction in corporate history.[18][19] Orange (formerly Microtel) was then sold to France Telecom, which subsequently changed its corporate name to Orange.[20][21]

To better manage their respective mobile interests, Millicom Inc. combined with Comvik's international cellular operations to become Millicom International Cellular SA in 1990, which now operates under the laws of the Grand Duchy of Luxembourg.[22] In 2000, Millicom started investing in three continents: Asia, Africa, and Latin America. In 2004, Millicom conceptualized the TIGO brand. In 2008, Millicom acquired AMNET for fixed Internet and TV services, leading to the company's formal cable business entrance. In addition, TIGO launched 3G technology. In 2012, TIGO incorporated three new brands: TIGO Money, TIGO Star and TIGO Business.[23][24][25][26] In 2013, Millicom launched TIGO Music in Latin America, reaching six countries across Latin America by 2015 and becoming the largest music streaming platform in Colombia. TIGO Music was also introduced to the African markets in 2014. Millicom launched its first 4G high-speed internet services in Colombia in 2014, followed by Bolivia later in the year, and the remaining markets soon after. In 2014, Millicom launched the TIGO Sports Television channel in Paraguay and Bolivia.[27][28][29][30]

In 2020, Millicom partnered with UNICEF to protect children's rights, later renewing the partnership to cover child online protection, and as virtual education gained prominence during the COVID-19 global pandemic. In 2017, Millicom's TIGO brand is ranked among the top 25 multinational companies to work for in Latin America, across all industries, obtaining the 20th place in the 2017 Great Place to Work (GPTW) survey. In 2017, Millicom launched TIGO ONEtv, the first Next Generation TV (NGTV) service for LATAM customers, integrating traditional linear television content with over-the-top platforms, as well as video on-demand. In 2018, Millicom acquired Cable Onda in Panama.[31][32][33][34] In 2019, Millicom expanded its Latin American presence, acquiring subsidiaries of Telefónica in Central America (Panama and Nicaragua). In addition, in 2019, Millicom common shares started trading on the NASDAQ Stock Market in the United States under the symbol TIGO. The new listing complemented the company's existing Swedish Depository Receipt (SDR) listing on NASDAQ Stockholm. In 2020, Millicom celebrated 30 years of bringing connectivity.[35][36][37][38]

Latin America[]

Guatemala[]

Tigo launched in 2004, replacing former national brands COMCEL and Amigo de COMCEL to become the country's largest mobile operator with more than nine million customers and market share of 53.4 percent (2015). Mobile penetration is estimated at 112 percent (as measured by GSMA, 2017) with internet penetration at 27 percent (World Bank, 2015). Tigo also provides mobile financial services through Tigo Money, as well as broadband, cable and business Services. Millicom equity holding 55 percent. (Q1 2014)[39]

El Salvador[]

Tigo launched in 2004 to replace the former national brand Telemovil and is now the country's largest mobile operator with three million customers and a market share of 37.8 percent (2015). Tigo is also El Salvador's largest broadband and cable service provider and offers satellite DTH services, mobile financial services under the brand Tigo Money, as well as corporate and B2B services. Millicom equity holding is 100 percent. (Q1 2014)

Honduras[]

Tigo launched in 2004 to replace the former national brand CELTEL. It is now the leading mobile service provider in a country of eight million, with an estimated 4.8 million customers. Its mobile market share is placed at 66 percent. Tigo also offers broadband, cable, business, satellite, mobile health insurance and financial services. Millicom equity holding is 66.7 percent.

Paraguay[]

Tigo launched in 2004 and is now the largest mobile operator with 3.8 million subscribers from a population of 6.7 million (World Bank 2012). Tigo Home has become market leader for pay TV and fixed broadband services since its launch in 2014, alongside Millicom's first DTH satellite service. Tigo's mobile market share is 56.4 percent. Other key services and products fall under the Tigo Business brand and under Tigo Metri, Tigo Sports, Tigo Max (Five channels), Tigo Cinema Basic (Three channels), Tigo Cinema Premium (Six channels), Tigo SAT Network, Tigo Music and Tigo Money. Millicom equity holding is 100 percent.

Exclusive Channels of Tigo TV Paraguay[]

Tigo Sports[]

Launched in 1994 as a Pay TV Channel and Digital sports content provider, this was the first sports media launched in all operations in Millicom. Originally known as Teledeportes Paraguay, a sports producing company that evolved into broadcast of events and programs 24/7. Its headquarters named "Tigo Sports Media House" is based in Fernando de la Mora and is among the best equipped studios in the region with 2 studios of 400 sq mts. Tigo Sports owns its own fleet of OB Vans and has over 150 employees.

Sportive Events of Tigo Sports and Tigo Sports Plus

  • Paraguayan Primera División (six games per matchday)
  • División Intermedia (Two games per matchday)
  • Primera B (occasionally)
  • Paraguay Cup of Soccer
  • La Liga
  • Ligue 1
  • CONMEBOL World Cup Qualifiers
  • Paraguayan Basketball League (One or two games per week during season)
  • Paraguayan Volleyball League (One game per week during season)
  • Paraguayan Futsal League (One game per week during season)
  • Paraguayan Futsal FIFA League (One game per week during season)
  • Paraguayan Rugby League
  • Olympic Qualifiers FIBA Américas (2018–19)

Other international sports rights that were part of the grid included:

  • NBA (Shared with PSN, ESPN, Bein Sports, DIRECTV Sports and NBA TV, seasons 1998/99, 2015/16 and 2016/17)
  • Serie A (Shared with PSN, Bein Sports, DIRECTV Sports and Claro Sports, seasons 2014/15 and 2015–16)
  • Premier League (Shared with ESPN, Bein Sports, DIRECTV Sports and Claro Sports, seasons 2014/15 and 2015/16)
  • FIFA World Cup Brazil 2014
  • Copa America Chile 2015 (Shared with Bein Sports & DIRECTV Sports)
  • Copa America Centenario (USA) 2016
  • FIFA World Cup Russia 2018

Tigo Max[]

Launched in 1992 as a pay-per-view channel

Sportive events of Tigo Max

Tigo Music[]

Tigo SAT Network[]

Launched in January 1995 as a 24-hour variety Pay TV channel.

Telenovelas broadcast on Tigo SAT Network

Unicanal[]

Unicanal was a 24-hour Pay TV cable purchased in October 2012 by the merger with Cablevision Paraguay (property of Grupo Clarin Argentina). It began operations on 15 December 1989, when it started broadcasting at 5:45 AM. During its time as propriety of Tigo Paraguay, genres included in the grid included News, Entertainment, Realities, Health, Magazines, alternating between local content and Argentinian content provided by El Trece Argentina (also part of Grupo Clarin) In February 2014, local soccer broadcast was translated from Unicanal to Tigo's new Pay TV cable, Tigo Sports, dedicated to sports 24/7. In February 2015, Tigo sold the operations of Unicanal to JBB Group, a company owner of Radio Disney, specialized in media, entertainment, distribution and in real estate.

Nicaragua[]

Tigo operates in Nicaragua – formed from the merger of Navega & Amnet in 2013 and competing with three other corporate network operators that combine mobile voice, 3G, 4G Networks and cable broadband.

At May 2020, the acquisition of Movistar operations in the Central American country was completed, becoming the second largest mobile carrier in the country under the name of Tigo Nicaragua.[citation needed].

Costa Rica[]

TigoStar is the country's leading pay TV operator with more than 30 years of service under different brand names dating back to Millicom's acquisition of Amnet in 2008.

Bolivia[]

Tigo launched in 2005 by a merger with TELECEL (a native Bolivian brand) and is now the second largest mobile operator in Bolivia (population 10.5 million – World Bank 2012) with more than 3.4 million customers. Tigo Bolivia competes with Entel and Nuevatel PCS (under the brand name Viva). Branded services include Tigo Money, Tigo Star and Tigo Sports, Tigo Business and Tigo Smart. In 2014, Bolivia launched Millicom's first satellite DTH service. Millicom equity holding is 100 percent.

Colombia[]

Tigo Colombia launched in 2006 and is Colombia's third largest mobile service provider with more than seven million customers. Its services include Tigo Money and UNE internet and broadband, with significant further market penetration anticipated in 2014 following a Merger Framework Agreement signed in 2013 with UNE EPM Telecomunicaciones, of the Empresas Publicas de Medellin group. Millicom also has a growing portfolio online in retail and services. Equity holding is 50 percent plus one share.

Exclusive Channels of TigoStar Colombia:

  • Tigo Sports

Genre: Sports

Broadcasting: 24 Hours

Launched: 7 April 2014 at 05:00 Description: The Colombian Second Sports Channel with sports broadcasting rights including: Categoria Primera C (seven games per match day), Copa Colombia (three matches per round), Premier League (up to six games per match day), Greek Super League (four games per match day)

Panama[]

Tigo purchased 80% of Cable Onda, a Panamanian cable TV provider and ISP for US$1460 Million, in October 2018.[40] It phased out the Cable Onda brand in 2020. In February 2019 Tigo announced the purchase of the Panamanian, Costa Rican and Nicaraguan operations of the Spanish company Telefónica for US$650 Million, US$570 Million, and US$430 Million respectively,[41] totaling US$1650 Million,[42] with Tigo planning to phase out the Movistar brand (operated by Telefónica) from those markets within a year after its purchase.[43] The transaction was completed in August the same year.[44]

As of March 2021, Millicom (TIGO) maintains operations across nine (9) Latin American countries: Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Paraguay.[45]

Africa[]

Millicom (TIGO) previously held operations in Chad, Democratic Republic of the Congo, Ghana, Rwanda, Senegal and Tanzania.[46]

  • Millicom (TIGO) completed the sale of Democratic Republic of the Congo in 2016.[47]
  • Millicom (TIGO) and Bharti Airtel merged in Ghana to complete AirtelTigo in 2017.[48]
  • Millicom (TIGO) completed the sale of Rwanda in 2017.[49]
  • Millicom (TIGO) completed the sale of Chad in 2019.[50]
  • Millicom (TIGO) completed the sale of Senegal in 2019.
  • Millicom (TIGO) completed the sale of Tanzania in 2021.

See also[]

References[]

  1. ^ "Earnings Release Q4 2020" (PDF). www.millicom.com.
  2. ^ "Earnings Release Q4 2020" (PDF). www.millicom.com.
  3. ^ "Millicom International". Forbes. Retrieved 2021-03-06.
  4. ^ "Millicom International Cellular S.A. resilient cash flow and customer growth". Reuters. Reuters. Retrieved 4 March 2021.
  5. ^ "Stenbeck transforms Swedish family firm into major online investor". Reuters. Retrieved 3 March 2021.
  6. ^ "Millicom mobile customers in Latin America". Statista. Statista. Retrieved 4 March 2021.
  7. ^ Cuff, Daniel F. (1982-11-04). "BUSINESS PEOPLE; Millicom Continues Management Growth". The New York Times. ISSN 0362-4331. Retrieved 2017-05-28.
  8. ^ Orhan Sadik-Khan interview, August 1995
  9. ^ Mack, Eric. "There are now more gadgets on Earth than people". CNET. Retrieved 2021-06-03.
  10. ^ Millicom Incorporated, Joint Proxy Statement/Prospectus, filed with the Securities and Exchange Commission, September 20, 1982
  11. ^ Hultén, Stephan and Mölleryd, Bengt, "Entrepreneurs, Innovations and Market Processes in the Evolution of the Swedish Mobile Telecommunications Industry," Paper presented at the Eighth International Joseph A. Schumpeter Society Conference, 28 June – 1 July 2000. NMT PCS | Privateline Archived 2015-09-24 at the Wayback Machine
  12. ^ Merriden, Trevor, "Rollercoaster, the Turbulent Life and Times of Vodafone and Chris Gent," Capstone Publishing, 2003. page 21.
  13. ^ Baran, Paul, "China Telecom Joint Venture with the PRC Put On Hold," Hong Kong Standard, October 30, 1985, page 1.
  14. ^ Robinson, Peter; "Mobile Cellular Radio Phones to be Introduced," New China Morning Post, May 20, 1985, page 2.
  15. ^ "History of Cellular Services". licensing.ofcom.org.uk.
  16. ^ "The Facts : 2004". na.baesystems.com. p. 107.
  17. ^ "Vodafone seals Mannesmann merger". BBC. February 11, 2000.
  18. ^ Monaghan, Angela; "The 10 biggest deals: how Vodafone's sale of its Verizon stake would compare." The Guardian, September 2, 2013.
  19. ^ Holliday, Katie: "The 10 largest M&A deals of all time" Investment Week, February 8, 2012
  20. ^ "France Telecom buys Orange for $37 bn". The Financial Express. 30 May 2000. Retrieved 9 June 2012.
  21. ^ "France Telecom clinches Orange deal". BBC. 30 May 2000. Retrieved 9 June 2012.
  22. ^ "MILLICOM INTERNATIONAL CELLULAR SA, Form 20-F/A, Filing Date Jan 13, 2005" (PDF). secdatabase.com. Retrieved May 15, 2018.
  23. ^ "Millicom International to acquire Amnet for $510 million". Marketwatch. Retrieved 3 March 2021.
  24. ^ "Tigo launches 3G services". BN Americas. BN Americas. Retrieved 3 March 2021.
  25. ^ "Millicom Tigo Money". Engineering for Change. Engineering for Change. Retrieved 4 March 2021.
  26. ^ "Tigo Music launches in Tanzania". Telecompaper. Retrieved 3 March 2021.
  27. ^ "Tigo y Movistar lanzan 4G". Portafolio. Portafolio. Retrieved 3 March 2021.
  28. ^ "Millicom launches Tigo Sports in Bolivia". Rapid TV News. Retrieved 3 March 2021.
  29. ^ "UNICEF And Millicom Team Up For A Safer Internet World For Children". My Social Good News. My Social Good News. Retrieved 4 March 2021.
  30. ^ "Over 12 million children caregivers and teachers reached UNICEF and Millicom Tigo". UNICEF. UNICEF. Retrieved 3 March 2021.
  31. ^ "Great Place to Work – Best workplaces in latin america 2017". Great Place to Work. Great Place to Work. Retrieved 4 March 2021.
  32. ^ "Great Place to Work- Best workplaces in latin america 2018". Great Place to Work. Great Place to Work. Retrieved 4 March 2021.
  33. ^ "Great Place to Work- Best workplaces in latin america 2020". Great Place to Work. Great Place to Work. Retrieved 4 March 2021.
  34. ^ "TIGO ONEtv: Millicom rolls out NGTV service in Latin America". Telecomdrive. Telecomdrive. Retrieved 3 March 2021.
  35. ^ "Millicom accelerates cable expansion with the acquisition of Cable Onda in Panama". BN Americas. BN Americas. Retrieved 4 March 2021.
  36. ^ "Millicom closes acquisition of Telefonica's Nicaragua unit". Telecompaper. Telecompaper. Retrieved 4 March 2021.
  37. ^ "Millicom common shares to begin trading on NASDAQ stock market in the U.S." Business Insider. Retrieved 4 March 2021.
  38. ^ "Millicom 30 years". Millicom. Retrieved 4 March 2021.
  39. ^ "UPDATE 1-Millicom flags "potential improper payments", shares dive". Reuters. 22 October 2015. Retrieved 2017-09-12.
  40. ^ "Millicom (Tigo) compra Cable Onda – Economía – title.suffix.trans". www.laestrella.com.pa.
  41. ^ DÍAS, CINCO (May 3, 2020). "Millicom da el paso de frenar la compra del negocio de Telefónica en Costa Rica". Cinco Días.
  42. ^ "Movistar se marcha de Panamá; Tigo ahora compró la telefonía celular". www.midiario.com. February 21, 2019.
  43. ^ "Tigo prepara red móvil de Panamá para la llegada de la tecnología 5G – Economía – title.suffix.trans". www.laestrella.com.pa.
  44. ^ "Millicom anuncia que completó adquisición de Telefónica en Panamá | La Prensa Panamá". www.prensa.com. August 29, 2019.
  45. ^ "Millicom Mobile Customers in Latin America". Statista. Statista. Retrieved 4 March 2021.
  46. ^ "Millicom nears Africa exit with Chad sale". MobileWorld Live. MobileWorld Live. Retrieved 4 March 2021.
  47. ^ "Millicom closes DRC sale to Orange". Telecompaper. Telecompaper. Retrieved 4 March 2021.
  48. ^ "Bharti Airtel and Tigo merge in Ghana to form AirtelTigo". Reuters. Reuters. Retrieved 4 March 2021.
  49. ^ "Millicom sells Rwanda business to bolster LatAm operations". BN Americas. BN Americas. Retrieved 4 March 2021.
  50. ^ "Millicom nears Africa exit with Chad sale". MobileWorld Live. MobileWorld Live. Retrieved 4 March 2021.

External links[]

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