Millicom International Cellular Sa (NASDAQ: MLCMF)

Millicom International Cellular S. A. is a leading provider of fixed and mobile telecommunications services in emerging markets across Latin America operating under the Tigo brand in eleven countries offering mobile voice mobile data mobile financial services broadband pay TV and fixed line to consumers businesses and government.

Revenue is generated primarily from mobile services including voice data and mobile financial services which accounted for about sixty percent of service revenue in 2025. Fixed services such as broadband pay TV and fixed line telephony contributed roughly thirty eight percent of service revenue. The company also sells handsets and other equipment to customers.

Millicom holds strong market positions in many of its countries often ranking among the top two mobile operators and among the leading broadband providers. Key competitors include regional players such as Telefonica America Movil and Claro as well as local incumbents. Competitive advantages stem from its early mover status its extensive fiber and tower infrastructure its spectrum holdings and the trusted Tigo brand.

The company serves a diverse customer base that includes individual consumers small and medium sized enterprises large corporations and government entities. As of December 31 2025 it had approximately forty nine point three million mobile subscribers and four point six million fixed line customer relationships.