Dodge & Cox Amends Millicom Stake, Signals Continued Confidence

TL;DR

**Dodge & Cox still holds Millicom shares, signaling they're bullish.**

AI Summary

Dodge & Cox, a California-based investment management firm, filed an amended SC 13G/A on February 13, 2024, indicating their ownership of Swedish Depository Receipts (SDRs) in Millicom International Cellular S.A. (NASDAQ: TIGO). This filing, dated December 31, 2023, is an amendment to their previous disclosures, showing their continued significant, passive stake in the telecommunications company. This matters to investors because Dodge & Cox is a large institutional investor, and their continued holding suggests confidence in Millicom's long-term prospects, potentially influencing other investors.

Why It Matters

This filing shows a major institutional investor, Dodge & Cox, maintains a significant, passive stake in Millicom, which can be seen as a vote of confidence in the company's future.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate new risks or changes in company operations.

Analyst Insight

A smart investor would note Dodge & Cox's continued passive ownership as a sign of institutional confidence, but also research Millicom's fundamentals and recent performance before making any investment decisions, as this filing is a routine update and not an active investment signal.

Key Players & Entities

• Dodge & Cox (company) — the investment management firm filing the SC 13G/A
• Millicom International Cellular S.A. (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• February 13, 2024 (date) — the date the SC 13G/A was filed
• Swedish Depository Receipts (other) — the class of securities owned by Dodge & Cox

Forward-Looking Statements

• Dodge & Cox will maintain a significant, passive stake in Millicom International Cellular S.A. for the foreseeable future. (Dodge & Cox) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• d758878dsc13ga.htm (SC 13G/A) — 36KB
• 0001193125-24-033462.txt ( ) — 38KB

From the Filing

SC 13G/A 1 d758878dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 2 )* MILLICOM INTERNATIONAL CELLULAR S.A. (Name of Issuer) Swedish Depository Receipts, which convert into Common Stock (Title of Class of Securities) L6388F110 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). PAGE 1 OF 5 PAGES CUSIP NO. L6388F110 13G PAGE 2 OF 5 PAGES 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Dodge & Cox 94-1441976 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)(b) N/A 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - U.S.A. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 8,674,932 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 8,674,932 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,674,932 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.0% 12 TYPE OF REPORTING PERSON* IA PAGE 2 OF 5 PAGES Item1(a) Name of Issuer : MILLICOM INTERNATIONAL CELLULAR S.A. Item1(b) Address of Issuers Principal Executive Offices : 2, Rue du Fort Bourbon L-1249 Luxembourg Grand Duchy of Luxembourg Item2(a) Name of Person Filing : Dodge & Cox Item2(b) Address of the Principal Office or, if none, Residence : 555 California Street, 40th Floor San Francisco, CA 94104 Item2(c) Citizenship : California - U.S.A. Item2(d) Title of Class of Securities : Swedish Depository Receipts, which convert into Common Stock Item2(e) CUSIP Number : L6388F110 Item3 If the Statement is being filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a : (e)Investment Advisor registered under section 203 of the Investment Advisors Act of 1940 Item4 (a) Amount Beneficially Owned : 8,674,932 (b) Percent of Class : 5.0% PAGE 3 OF 5 PAGES (c) Number of shares as to which such person has : (i) sole power to vote or direct the vote: 8,674,932 (ii) shared power to vote or direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 8,674,932 (iv) shared power to dispose or to direct the disposition of: 0 Item5 Not applicable. Item6 The clients of Dodge & Cox, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, MILLICOM INTERNATIONAL CELLULAR S.A. Item7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: Not applicable. Item8 Identification and Classification of Members of the Group : Not applicable. Item9 Notice of Dissolution of a Group : Not applicable. Item10 Certification : By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purpose or effect. PAGE 4 OF 5 PAGES SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 13, 2024 DODGE & COX By: /S/ Katherine M. Primas Name: Katherine M. Primas Title: Chief Compliance Officer PAGE 5 OF 5 PAGES

View Full Filing

View this SC 13G/A filing on SEC EDGAR