Millicom Increases Its Focus on Latin America with Acquisition of Cable Onda
Millicom reported mixed third-quarter results with revenue a bit light but strong EBITDA margins. We believe these issues basically offset each other and are maintaining our $86 per ADR fair value estimate and narrow moat rating. We believe the shares are undervalued. Reported revenue only grew 0.3% year over year in the quarter but is still up 1.7% through nine months. However, this still trails our full-year projection of 3.3%, but importantly on an organic basis its service revenue grew 4.2% ...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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