Atlas proposes buying all outstanding shares in Millicom

Millicom (Tigo) comments on shareholder communication

LUXEMBOURG — The Board of Directors of Millicom International Cellular S.A. (“Millicom”) confirms that it received today a non-binding expression of interest from one of its shareholders, Atlas Luxco S.à.r.l (“Atlas”). Consistent with the prior press release filed this morning by Atlas, and with the Form 13D filed by Atlas later today, the letter indicates that Atlas is exploring financing options to support a potential all-cash tender offer for all outstanding shares in Millicom at a price of US$24 per share, and its SEK equivalent per SDR.

The Board of Directors will carefully review any offer, should one be made. There is no certainty that a transaction will materialize nor as to the terms, timing or form of any potential transaction.