Millicom International Cellular

TIGO

Millicom International Cellular SA is an international telecommunications and media company, founded by Shelby Bryan, Jan Stenbeck, Telma Sosa, and Olvin Galdamez. It offers telecommunications services to more than 51 million customers primarily under the Tigo brand in eleven countries in Africa and Latin America. Tigo comes from contigo in Spanish, which means "with you". Millicom was one of the earliest pioneers of mass consumer mobile telephony and was formed in 1990 when Millicom Incorporated merged with the Swedish investment company Investment AB Kinnevik. Since then, the firm has seen annual revenue grow to $6.02 billion, driven mainly by mobile phone services and, increasingly, by data, with a large portfolio of cable, satellite, broadband, B2B, Mobile Financial Services and other media. The same year, Millicom announced a new business strategy around monetising data and building cable, with the stated ambition to become the second largest pay-TV operator in Spanish-speaking Latin America. Millicom's cable footprint grew in 2015 to 7.6 million homes passed and exceeded nine million by the end of 2017. The company's Mobile Financial Services account for more than 40 percent of the total number of active mobile money subscribers in Latin America. In Africa, Millicom set up the continent's first ever universal interoperable mobile money network through its Tigo Pesa brand in Tanzania that includes Airtel, Zantel and Vodacom. Tanzania is considered to be a world leader in terms of mobile money customization.

Millicom International Cellular has been a target of short sellers for a while. The current short interest of 1.94% is roughly at the average of the last 12 months (1.79%).