Millicom Int. Cellular

Millicom (Tigo) comments on shareholder communication

Luxembourg, May 23, 2024 – The Board of Directors of Millicom International Cellular S.A. (“Millicom”) confirms that it received today a non-binding expression of interest from one of its shareholders, Atlas Luxco S.à.r.l (“Atlas”).  Consistent with the prior press release filed this morning by Atlas, and with the Form 13D filed by Atlas later today, the letter indicates that 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.  

The Board of Directors will carefully review any offer, should one be made.  There is no certainty that a transaction will materialize nor as to the terms, timing or form of any potential transaction.

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About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile
telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,500 people, and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.