Xavier Niel’s funding agency already has a 29% stake in Millicom
French businessman Xavier Niel’s Atlas Investissement is seeking to buyout Latin America-focused operator group Millicom, providing to buy the shares it doesn’t already personal in a deal valuing the service at roughly $4.1 billion.
Millicom, headquartered in Luxembourg, gives mounted and cell telecom companies beneath the Tigo model to greater than 50 million subscribers in Latin America. Particularly, it serves prospects in Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Paraguay. In line with the service, it did $5.6 billion is gross sales final yr.
Atlas already has a 29% stake in Millicom, and first revealed it was contemplating making a buyout supply in Could. On Monday, it mentioned it can supply $24 a share in money. Millicom’s impartial board committee, nonetheless, has rejected the value, stating it’s too low on account of anticipated future monetary efficiency. Analysts, although, has pointed to the combined efficiency of Millicom’s Latin American operations over the previous couple of years as the results of a risky economic system and unreliable demand.
“Atlas desires to proceed increasing the attain and capability of Millicom’s networks and distribution capabilities to develop its buyer base and higher leverage its complete telecom experience,” Atlas mentioned in a press release.
In 2021, Millicom partnered with for Parallel Wi-fi for the deployment of O-RAN-compliant Open Radio Entry Community (Open RAN) structure in Colombia, with the intention of delivering 4G service protection in 362 rural websites throughout the nation.
Niel is the founding father of French telecommunications supplier Iliad Group.
