Millicom International Cellular SA (TIGO) has released an update.
An independent committee of Millicom’s board has rejected a takeover bid of $24 per share from shareholder Atlas as undervaluing the company, considering its expected financial performance. The committee forecasts Millicom’s 2024 Equity Free Cash Flow to surpass $600 million, excluding proceeds from a recent Colombia tower sale and any future transactions. Goldman Sachs and Morgan Stanley, alongside legal advisors, are providing counsel to the committee during this process.
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