Atlas Investissement Amends Millicom Stake Filing

TL;DR

Atlas Investissement updated its 13D filing for Millicom, showing changes in beneficial ownership.

AI Summary

On August 5, 2024, Atlas Investissement filed an amendment (No. 14) to its Schedule 13D for Millicom International Cellular S.A. The filing indicates a change in beneficial ownership, with Atlas Investissement, along with group members NJJ Holding and Xavier Niel, collectively holding a significant stake in the company. The specific date of the event requiring this filing was August 2, 2024.

Why It Matters

This filing signals a potential shift in control or influence over Millicom International Cellular S.A. by Atlas Investissement and its associated entities.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate strategic shifts or potential takeovers, which carry inherent market risks.

Key Players & Entities

• Atlas Investissement (company) — Filing Person
• Millicom International Cellular S.A. (company) — Subject Company
• NJJ Holding (company) — Group Member
• Xavier Niel (person) — Group Member
• Denis Klimentchenko (person) — Authorized Contact

FAQ

Key Financial Figures

• $1.50 — ged for Issuer common shares, par value $1.50 per share (“ Common Shares &rdquo

Filing Documents

• tm2420650d2_sc13da.htm (SC 13D/A) — 69KB
• 0001104659-24-085556.txt ( ) — 70KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration.

of the Schedule 13D is hereby amended and supplemented as follows

Item 3 of the Schedule 13D is hereby amended and supplemented as follows: On August 2, 2024, Atlas increased the Offer Price from USD 24.00 to USD 25.75 per Common Share and per SDR. The maximum amount of funds required to consummate the Offers pursuant to this revised Offer Price is approximately USD 3.1 billion, or SEK 33.1 billion, in each case based on an illustrative USD/SEK exchange rate of 10.6 as of June 28, 2024. Atlas has also increased the maximum aggregate amount available under the Interim Facilities from USD 8,000,000,000 to USD 8,200,000,000 in connection with the increase of the Offer Price. The terms of the Commitment Letters are otherwise unchanged. It is expected that the Long-Term Financing will now be comprised of USD 7,300,000,000 financings to be entered into by Purchaser but the terms of the Long-Term Financing will otherwise be unchanged by such increase in the Offer Price. Citibank Europe Plc, Ireland Branch, has also been added to the group of arrangers and original lenders party to the Commitment Letters and to the group of arrangers and original lenders party to the Long-Term Financings.

Purpose of Transaction

Item 4. Purpose of Transaction.

of the Schedule 13D is hereby amended and supplemented by adding

Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following: On August 2, 2024, Atlas filed an amendment to the Tender Offer Statement and Rule 13e-3 Transaction Statement, a copy of which is filed as an exhibit to this Schedule 13D and incorporated herein by reference.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. Items 5(a)-(c) of the Schedule 13D are hereby amended and restated as follows: (a) and (b) The percentage of beneficial ownership in this Schedule 13D is based on 171,274,816 Common Shares outstanding as of July 5, 2024 (172,096,305 Common Shares outstanding, less 821,489 Common Shares held in treasury, as set forth in the last relevant update available on the date hereof in the “ Stock Information ” section of the Issuer’s website). The aggregate number and percentage of Common Shares beneficially owned by each Reporting Person and, for each Reporting Person, the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover pages of this Schedule 13D and are incorporated herein by reference. As of August 2, 2024, Atlas beneficially owned 49,966,734 SDRs, which may be exchanged for Common Shares on a one-for-one basis. Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission that any Reporting Person (other than Atlas to the extent it directly holds the securities reported herein) is the beneficial owner of the Common Shares referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose and each of the Reporting Persons expressly disclaims beneficial (c) Except as described in this Schedule 13D, the Reporting Persons have not effected any transactions in Common Shares during the past sixty days.

Material to be filed as Exhibits

Item 7. Material to be filed as Exhibits.

of the Schedule 13D is hereby amended by adding the following

Item 7 of the Schedule 13D is hereby amended by adding the following exhibit: 12. Amendment No.2 to the Tender Offer Statement and Rule 13e-3 Transaction Statement filed under cover of Schedule TO with the SEC by the Reporting Persons on August 2, 2024 (incorporated herein by reference).

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned, severally and not jointly, certifies that the information set forth in this statement is true, complete and correct. Dated: August 5, 2024 ATLAS LUXCO S.À R.L. By: /s/ Anthony Maarek Name: Anthony Maarek Title: Manager By: /s/ Tigran Khachatryan Name: Tigran Khachatryan Title: Manager ATLAS INVESTISSEMENT By: /s/ Xavier Niel Name: Xavier Niel Title: Président of NJJ Holding itself Président of Atlas Investissement NJJ HOLDING By: /s/ Xavier Niel Name: Xavier Niel Title: Président XAVIER NIEL By: /s/ Xavier Niel

View Full Filing

View this SC 13D/A filing on SEC EDGAR