We are advising Millicom’s independent committee on the tender offer

Davis Polk is advising the independent committee of the board of directors of Millicom International Cellular S.A. in connection with a tender offer launched on July 1, 2024 by Atlas Luxco S.à r.l., a subsidiary of Atlas Investissement S.A.S., one of Millicom’s shareholders, to purchase all of the outstanding common shares and SDRs in Millicom which Atlas does not currently own.

Founded in 1990 and headquartered in Luxembourg, Millicom is a leading provider of fixed and mobile telecommunications services in Latin America. As of March 31, 2024, Millicom, including its Honduras joint venture, employed approximately 15,500 people, and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 14 million homes passed.

Atlas is a specialist investment vehicle indirectly owned by Xavier Niel and focused on the telecommunications sector.

The Davis Polk corporate team includes partners William H. Aaronson and Michael Senders and associate Steven Jaffe. Partner John B. Meade and associates Michael Schuster and Moses Farzan Nekou are providing capital markets advice. Partners Robert F. Smith and Aaron Ferner and associate Jason Levine are providing finance advice. Partner Jennifer S. Conway is providing executive compensation advice. Members of the Davis Polk team are based in the New York and London offices.

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