Tigo Stock News: Millicom Director Sells Entire Stake

Board Member Exits with 17,269 Share Disposal

In a recent development, Millicom International Cellular's (Millicom) Director, Monica Magnusson, has sold her entire stake in the company. The transaction involved the disposal of 17,269 ordinary shares, representing approximately 0.003% of Millicom's issued share capital.

The share disposal was executed through a series of transactions on the Nasdaq Stockholm exchange between February 27 and March 3, 2023. The shares were sold at an average price of SEK 28.70 per share, resulting in gross proceeds of approximately SEK 497,000 (US$47,000).

Reason for Share Sale

The reason for Magnusson's decision to sell her stake has not been publicly disclosed. However, it is worth noting that she has been a Director of Millicom since 2019 and has recently taken on new responsibilities as a Board member of Ericsson. This change in her professional commitments may have influenced her decision to divest her holdings in Millicom.

Impact on Millicom

The sale of Magnusson's stake is unlikely to have a significant impact on Millicom's operations or financial performance. The company's share price has remained relatively stable since the transactions took place, indicating that investors do not view the sale as a negative development.

Millicom continues to focus on its mission of providing affordable and reliable mobile and broadband services in Latin America and Africa. The company has a strong market position in these regions and is well-positioned for continued growth.