Liberty Ends Discussions to Acquire Millicom Over Price; Millicom's Stock Undervalued
Millicom's stock is trading down about 8% in Stockholm as we write on Jan. 23, as the firm has confirmed that Liberty Latin America has exited talks to acquire it. We are not surprised that the two firms couldn’t agree on a price, and we are maintaining our $86 fair value estimate for Millicom’s ADR. We previously wrote about our skepticism regarding a deal. Liberty is significantly smaller than Millicom and already carries a large debt load. Its stock has performed poorly since being spun out o...Millicom International Cellular is a global telecommunications group with mobile telephony operations in emerging markets. Co also operates various combinations of fixed telephony, cable and broadband businesses in five countries in Central America. Co. operates its mobile businesses in El Salvador, Guatemala, Honduras, Bolivia, Colombia, Paraguay, Chad, the Democratic Republic of Congo, Ghana, Mauritius, Rwanda, Senegal, Tanzania and Laos. Co. also provides broadband and cable television services in Costa Rica, Honduras and El Salvador; fixed telephony in El Salvador and Honduras, and corporate data services in the above countries and in Guatemala and Nicaragua.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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