Millicom International Cellular (TIGO US, +1, 19-Mar-25)
Jules Niel (Director since September 2024) spent $25 million on March 14th, acquiring 849,021 SDRs at SEK 299.06 (approx. $30 equiv.). The purchase is indirect for Atlas, an entity owned by the Niel family that owns approximately 70.5m shares (42% of the company). His only other reported purchase while a board member was in November 2024, when he spent $1 million buying the SDRs at SEK 280.
The Niels family owned 25% of the company in 2023. In 2024, they reportedly attempted to purchase the company for $24 per share. Jules subsequently joined the board and has access to more information and influence in the company. Seeing the purchase while the stock is near a multi-year high is interesting. While the purchase indicates he is not privy to material non-public information, it also shows he is likely confident in the company’s prospects, including delisting from the Swedish exchange.
We are ranking the stock +1 (strongly positive signal).
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