Millicom: Strong Niche Player

BY CHRONICLE STAFF

While Latin America's telecom sector is increasingly dominated by Spain-based Telefonica and Mexico-based America Movil, which operate competing telecom operators throughout the region, there are also several other players benefiting from the fast-growing action. One of them is Swedish-owned Millicom, which operates six Latin American wireless operators under the Tigo brand. During the first quarter, it boosted Latin America revenue by 37.5 percent to $572 million.

"We're very happy [and] excited about the growth we've achieved," says Andrew Best, Millicom's London-based head of investor relations.

Although it's still smaller than both America Movil and Telefonica, Millicom is growing much faster, a Latin Business Chronicle analysis shows. Millicom's revenue growth last year - 75.4 percent - compares with 11 percent for Telefonica's Latin America operations and 28.2 percent for America Movil. This year, the trend continues. Millicom's first quarter growth was nearly...

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Keywords: Bolivia, Colombia, El Salvador, Guatemala, Honduras, Paraguay