Niel increases stake in Latin American Millicom to 46.7%, market value exceeds $7 billion

en.Wedoany.com Reported - Xavier Niel continues to increase his stake in Latin American telecom operator Millicom, with his shareholding rising to 46.7%. The holding company of the Free founder, Atlas Investissement, currently holds approximately 78.3 million shares. Based on recent stock prices, the value of this investment has exceeded $7 billion.

This increase is part of a long-term strategy initiated at the end of 2022. Xavier Niel initially acquired about 7% of the shares, rapidly increasing to 20% in 2023, approaching 29% by summer 2024, and rising to approximately 42% by July 2025. Atlas Investissement attempted to gain control through a tender offer, raising the bid from $24 per share to $25.75 per share, but the operation was unsuccessful. Subsequently, Xavier Niel continued to buy shares on the open market, with the most recent transaction on June 18 involving the purchase of approximately 1.25 million shares through a financial contract with Société Générale.

Since Xavier Niel's investment, Millicom's financial performance has significantly improved. The telecom operator, which operates under the Tigo brand in several Latin American countries, has been deleveraging, optimizing costs, and strengthening its market presence. Results for the first quarter of 2026 showed growth in revenue, adjusted EBITDA, and free cash flow. This transformation is also reflected in the stock price: when Xavier Niel first bought in, the stock was below $25; it has now risen to approximately $92, a nearly fourfold increase.

It is estimated that Xavier Niel's total investment is between $1.8 billion and $2 billion. The current value of this stake is approximately $7.2 billion, with unrealized gains exceeding $5 billion. Millicom currently operates in nine Latin American countries, covering a population of approximately 145 million, with nearly 60 million users, and has begun paying dividends to shareholders.