Millicom Expands in South America with Telefónica Uruguay Acquisition

Millicom International Cellular SA ( (TIGO) ) just unveiled an announcement.

On May 21, 2025, Millicom International Cellular S.A. held its Annual and Extraordinary General Meetings, where all proposed resolutions were approved, including director elections, dividend distributions, and a share repurchase plan. The company also announced the cancellation of over 3 million treasury shares, reducing its issued share capital. Additionally, Millicom entered into an agreement to acquire Telefónica Móviles del Uruguay for USD 440 million, aiming to strengthen its presence in South America and diversify its cash flow sources. The acquisition is expected to be financially beneficial starting in 2026, with anticipated synergies and a positive market outlook in Uruguay.

The most recent analyst rating on (TIGO) stock is a Buy with a $37.00 price target. To see the full list of analyst forecasts on Millicom International Cellular SA stock, see the TIGO Stock Forecast page.

Spark’s Take on TIGO Stock

According to Spark, TipRanks’ AI Analyst, TIGO is a Outperform.

Millicom International Cellular SA has a solid financial foundation, with strong operational efficiency and cash flow generation supporting future growth. The stock demonstrates positive technical momentum, although valuations are influenced by leverage and currency impacts. The recent earnings call underscores strategic improvements and growth prospects. These factors combine to reflect a moderately strong stock performance outlook.

To see Spark’s full report on TIGO stock, click here.

More about Millicom International Cellular SA

Millicom International Cellular S.A., operating under the TIGO and Tigo Business brands, is a leading provider of fixed and mobile telecommunications services in Latin America. The company offers a broad range of digital services, including mobile financial services, local entertainment, pay TV, and business solutions. As of March 31, 2025, Millicom serves over 46 million customers and has a significant fiber-cable footprint, with operations headquartered in Luxembourg and principal offices in Doral, Florida.

Average Trading Volume: 1,045,036

Technical Sentiment Signal: Buy

Current Market Cap: $6.34B

For detailed information about TIGO stock, go to TipRanks’ Stock Analysis page.