New Street: Millicom (Buy, TP: $48, +68%) Millicom: A busy quarter provides opportunity: Rights offering, CMD, new CFO
Q1 is set to be a busy quarter for Millicom. FY results are due on Feb 11, followed by an investor day on Feb 14 which is designed to showcase the stock ahead of a USD750 million placing due by the end of Q1 which is set to part-fund the Guatemala minority buy-in.
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.
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