© Reuters. FILE PHOTO: Xavier Niel, founder of French broadband Internet provider Iliad, arrives for a hearing on the concentration of media ownership in the country, at the French Senate in Paris, France, February 18, 2022. REUTERS/Sarah Meyssonnier
PARIS (Reuters) – French billionaire Xavier Niel has boosted his stake in Luxembourg-based telecoms firm Millicom International Cellular S.A. to 19.6%, his investment vehicle Atlas Investissement said in a statement on Tuesday.
Last November, Atlas Investissement told Luxembourg’s markets regulator that it owned about 7% of Millicom’s shares.
Millicom provides fixed and mobile telecommunications services in Latin America, through its TIGO brand.
At end 2022, the group, listed in the United States with a market capitalization of $3.54 billion, said it employed about 20,000 people.
Millicom’s full-year 2022 sales totalled $5.62 billion, up 3.3% from a year earlier on an underlying basis, with an operating profit of $915 million, it said last week.
