Millicom (TIGO) is a Latin American telecom operator selling mobile and fixed connectivity services to consumers and businesses under the Tigo brand across eleven countries, including Guatemala, Colombia, Panama, Honduras, and Paraguay. On the mobile side, Millicom offers prepaid and postpaid data, voice, and SMS plans. On the fixed side, Millicom sells residential broadband, pay-TV, and fixed voice over HFC and FTTH cable networks. Millicom also serves businesses with connectivity, managed services, cloud, cybersecurity, and SD-WAN solutions. Guatemala is the largest and most profitable market, followed by Colombia. Mobile generates roughly 60% of service revenue, with fixed and other services generating roughly 38%. The core growth lever is migrating prepaid mobile subscribers to postpaid — postpaid customers generate roughly 50% higher ARPU and are connected all month vs. roughly 15 days for prepaid customers. Only about 22% of Millicom's ~49M mobile subscribers are postpaid, giving management a long runway for organic revenue growth. Millicom also pursues fixed broadband expansion and fixed-mobile convergence, as bundled customers churn at roughly half the rate of non-bundled customers. Millicom has been acquisitive, adding Ecuador, Uruguay, and Colombian assets in 2025 and Chile in early 2026, applying a consistent integration playbook of new leadership, headcount restructuring, and efficiency before top-line growth.