Millicom International Cellular S.A. (TIGO) Covered Calls

Millicom International Cellular S.A., operating under the Tigo brand, is a leading provider of fixed and mobile telecommunications services in Latin America. The company provides a range of digital services including high-speed broadband, mobile voice and data, cable TV, and mobile financial services via Tigo Money. With a focus on building "digital highways," Millicom serves millions of customers across nine markets, prioritizing connectivity as a driver of economic growth.

You can sell covered calls on Millicom International Cellular S.A. to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for TIGO (prices last updated Fri 4:16 PM ET):

Millicom International Cellular S.A. (TIGO) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
66.08 +2.13 64.55 68.00 2.2M 10 6.5
Covered Calls For Millicom International Cellular S.A. (TIGO)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Mar 20 65 2.70 65.30 -0.5% -6.3%
Apr 17 65 4.00 64.00 3.5% 22.4%
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Core Business and Products

Millicom International Cellular (TIGO) is a major telecommunications operator dedicated to the Latin American market. The company operates primarily under the "Tigo" brand, providing integrated digital services to residential, business, and government customers. Its core product suite includes mobile services (4G and 5G), high-speed fixed broadband, and pay-TV. A key growth pillar is "Tigo Business," which provides cloud, security, and managed services to enterprises. Additionally, Millicom’s "Tigo Money" platform is a leading provider of mobile financial services, facilitating digital payments and financial inclusion in regions with high unbanked populations.

As of early 2026, Millicom has significantly expanded its footprint through strategic M&A. On February 10, 2026, the company announced a joint acquisition with NJJ to take over Telefónica’s operations in Chile, a move designed to reposition challenged assets in a high-demand market while protecting Millicom’s balance sheet. This follows the successful 2025 integration of major assets in Colombia, Ecuador, and Uruguay. The company’s "Project Sangam" efficiency initiative continues to optimize its cost structure, aiming to support a robust equity free cash flow target of over $750 million annually.

Competitive Landscape

The Latin American telecom landscape is characterized by intense competition and rapid technological transition. Millicom competes with global giants and regional players for mobile subscribers and fiber-to-the-home (FTTH) market share. Primary competitors listed on the NYSE or NASDAQ with active, liquid options chains include América Móvil, Liberty Latin America, and Vodafone Group. In the specialized satellite and infrastructure space, it also shares market overlap with AST SpaceMobile. Other major rivals in the region include Telefónica and various local internet service providers.

Strategic Outlook and Innovation

Millicom’s strategic roadmap for 2026, titled "Connecting the Future," focuses on the massive rollout of 5G and fiber-optic networks across its core markets. The company is transitioning its legacy copper networks to high-speed fiber at an accelerated pace, targeting over 15 million homes passed by the end of 2026. Innovation is centered on the "Tigo ONEtv" ecosystem, which integrates streaming services with traditional cable to capture the shifting consumer preference for hybrid entertainment. The company is also leveraging AI-driven predictive analytics to reduce churn and personalize customer offerings.

Financially, Millicom is prioritizing debt reduction and shareholder returns. Following a record-breaking 2025 profitability surge driven by infrastructure sales, the company has reinstated a robust dividend policy and share repurchase program. Management remains focused on maintaining a net leverage ratio below 2.0x while funding the capital expenditures required for 5G deployment in urban centers. By consolidating its market positions in Colombia and Chile, Millicom aims to emerge as the dominant "converged" operator in the region, providing a seamless digital experience across mobile, home, and financial service platforms.