MIICF
Millicom International Cellular S.A.OTCPK - Current
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  • Fri, May 27, 11:00 AM
    • Orange (ORAN -1.3%) is said to be talking informally with Millicom International Cellular (OTCPK:MIICF +3.5%) in order to buy still more African operations.
    • Orange -- which has been pouring money into African expansion -- is interested in Senegal, Ghana and Chad, Bloomberg says, as well as East Africa after it sold out of its Kenyan operation.
    • Millicom had previously agreed to sell its assets in Democratic Republic of Congo to Orange for $160M. It's looking to get out of West and Central Africa and focus on its eastern holdings. “The market clearly wants an exit from Africa for Millicom,” analyst Stefan Gauffin says.
    | Fri, May 27, 11:00 AM
  • Oct. 26, 2015, 4:26 PM
    • Millicom International Cellular (OTCPK:MIICF +1%) has wrapped up an acquisition of Zantel, making it the No. 2 mobile operator in Tanzania.
    • Terms were undisclosed, though in June Millicom had said it would pay a token $1 and assume the company's $74M in debt. The government of Zanzibar is keeping a 15% stake in Zantel.
    • Zantel is Zanzibar's biggest mobile operator and had a 4.8% share of the Tanzania market, which has 34.1M subscribers. Adding it brings Millicom's Tigo unit to 34.2% of the market, ahead of Airtel's 30.1% and just behind Vodacom's (OTC:VODAF) 35.2%.
    | Oct. 26, 2015, 4:26 PM
  • Jul. 8, 2015, 11:58 PM
    • Europe is leading the world in telecoms moving to "quad-play" bundling -- adding wireless to fixed-line telephones, broadband and pay TV -- which should mean a big opportunity for firms to drive margin improvement and build some competitive moats, says Morningstar's Allan Nichols.
    • Both in-country consolidations and convergence mergers are helping build moats, he says -- the latter because it tends to lower churn as people subscribe to more services. And with lower churn, companies can lower subscriber acquisition cost.
    • His favorites in the space: Telefonica (NYSE:TEF), already a leader in triple-play and convergence in Spain and Brazil; Orange (NYSE:ORAN), leading a fiber buildout in France; and Millicom International Cellular (OTCPK:MIICF), with a high organic growth rate but low EV/EBITDA.
    • About 16% of Virgin Media customers were taking four services when it was acquired by Liberty Global (NASDAQ:LBTYA) in summer 2013, which Nichols thinks was a key factor. Liberty is now offering wireless services as an MVNO in several markets, and has agreed to buy Royal KPN's (OTCPK:KKPNY) wireless business Base.
    • From the wireless direction, Vodafone (NASDAQ:VOD) is also acquiring assets to offer other services, particularly after it bought Cable & Wireless Worldwide in the UK, and later Kabel Deutschland in Germany.
    • Europe would benefit from more cross-border mergers, Nichols says, but they're unlikely due to political constraints, and German cable consolidation is likely to run into regulatory opposition as well.
    | Jul. 8, 2015, 11:58 PM