French billionaire Xavier Niel is exploring a potential acquisition of the Latin American telecom group Millicom, which operates under the brand name Tigo. According to regulatory filings, Atlas Investissement, which is owned by Niel’s NJJ Holdings and currently holds a 29.1% stake in Millicom, has made a non-binding expression of interest to acquire the remaining shares at $24 per share, valuing the deal at approximately $4.1 billion. Both Millicom and Atlas Investissement have confirmed these reports through official statements. Millicom has indicated that it will carefully review any formal offer once made. Interestingly, Millicom recently reported a revenue increase of 8.6% for the quarter, bringing in $1.487 million, signaling a strong start to 2024. Millicom’s current market position with 41 million mobile customers in Latin America makes it an attractive investment, as previously stated by Atlas, which increased its stake in Millicom from 7% in November 2022 to its current level.

Telecommunications, Private Equity,Latin America, France, United States