Comunicaciones Celulares SA Resolves DOJ Investigation
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November 10 2025 1705 ET
Source
Millicom International Cellular SA
Millicom International Cellular SA
ppComunicaciones Celulares SA Resolves DOJ Investigation Related to Historical Conduct ppLuxembourg November 10 2025 Millicom International Cellular SA Millicom today announced that its subsidiary Comunicaciones Celulares SA Comcel has reached an agreement with the US Department of Justice DOJ to resolve an investigation concerning historical improper payments made to Guatemalan government officials At the time of the conduct Comcel operated as a joint venture over which Millicom lacked operational control ppMillicom welcomes todays agreement which resolves all issues associated with DOJs investigation first disclosed by Millicom in May 2022 Millicom and its operations are committed to operating with the highest ethical standardsppMillicoms 2015 voluntary selfdisclosure cooperation and remediationppMillicom first voluntarily selfreported alleged improper payments involving Comcel to DOJ and Swedish authorities in 2015 Millicom fully cooperated with the authorities and as previously announced both DOJ in 2018 and the Swedish Prosecution Authority in 2016 closed their investigations without action ppIn the wake of that voluntary selfdisclosure Millicom invested heavily in building out and strengthening its global corporate compliance program which it launched in Guatemala promptly upon acquiring full ownership of the Comcel operation from its local shareholder in November 2021 ppDOJs reopened investigationppEven after the voluntary selfdisclosure and until the 2021 acquisition Millicom continued to lack operational control over and visibility into the actions of Comcel As previously disclosed Millicom received a subpoena in April 2022 ppAs reflected in todays agreement Millicom and Comcel cooperated fully and extensively with DOJs investigation and provided to DOJ information and access in a way that was not possible in 2015 when Millicom lacked operational control of Comcel The company also took major remediation steps including exiting the general manager and other personnel at Comcel who were involved in misconduct ppResolution with DOJppThe investigation is being resolved through a deferred prosecution agreement DPA between Comcel and DOJ In recognition of the 2015 selfreport and Comcels and Millicoms extensive cooperation and remediation efforts as well as the strength of Millicoms global compliance program the agreement will remain in place for two years rather than a standard threeyear term and DOJ will not require a corporate monitor ppUnder the terms of the agreement Comcel will pay a 60 million fine and forfeit 582 million in approximate benefits derived from the improper payments The fine amount represents a 50 percent discount off the bottom end of the applicable penalty range under the US Sentencing Guidelines the highest penalty discount available under applicable DOJ policy and more than has ever been granted to a company in an FCPArelated agreement of this kind again reflecting Millicoms extensive cooperation and remediation efforts Millicom will also report to DOJ regarding its compliance program during the term of the DPAppAs this resolution reflects for the past decade Millicom has consistently acted as a responsible and transparent company Although this misconduct occurred when we lacked operational control of Comcel Millicom has consistently taken all possible actions to remediate and correct it said Salvador Escalon Chief Legal and Compliance Officer at Millicom As soon as we gained control of Comcel we were finally able to build a stronger more transparent operation just as we have been doing for many years in our other markets Today Comcel operates under our very high Millicom global standardsppMillicom looks forward to continuing its focus on connecting people driving digital inclusion and contributing positively to the development of the markets in which it operatesppENDppFor further information please contact ppAbout MillicomppMillicom NASDAQ TIGO is a leading provider of fixed and mobile telecommunications services in Latin America Through its TIGO and Tigo Business brands the company provides a wide range of digital services and products including TIGO Money for mobile financial services TIGO Sports for local entertainment TIGO ONEtv for pay TV highspeed data voice and businesstobusiness solutions such as cloud and security As of September 30 2025 Millicom including its Honduras Joint Venture employed approximately 14000 people and provided mobile and fibercable services through its digital highways to more than 46 million customers with a fibercable footprint over 14 million homes passed Founded in 1990 Millicom International Cellular SA is headquartered in Luxembourg with principal executive offices in Doral Floridapp
Millicom Tigo Q3 2025 Earnings Release Luxembourg November 6 2025 Millicom is pleased to announce its third quarter 2025 results Please find below links to the Q3 2025 Earnings Release and IAS
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Millicom Tigo acquires Telefónica Ecuador for USD 380 Million strengthening its South American footprint Luxembourg October 30 2025 Millicom International Cellular SA Millicom today
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November 10 2025 1705 ET
Source
Millicom International Cellular SA
Millicom International Cellular SA
ppComunicaciones Celulares SA Resolves DOJ Investigation Related to Historical Conduct ppLuxembourg November 10 2025 Millicom International Cellular SA Millicom today announced that its subsidiary Comunicaciones Celulares SA Comcel has reached an agreement with the US Department of Justice DOJ to resolve an investigation concerning historical improper payments made to Guatemalan government officials At the time of the conduct Comcel operated as a joint venture over which Millicom lacked operational control ppMillicom welcomes todays agreement which resolves all issues associated with DOJs investigation first disclosed by Millicom in May 2022 Millicom and its operations are committed to operating with the highest ethical standardsppMillicoms 2015 voluntary selfdisclosure cooperation and remediationppMillicom first voluntarily selfreported alleged improper payments involving Comcel to DOJ and Swedish authorities in 2015 Millicom fully cooperated with the authorities and as previously announced both DOJ in 2018 and the Swedish Prosecution Authority in 2016 closed their investigations without action ppIn the wake of that voluntary selfdisclosure Millicom invested heavily in building out and strengthening its global corporate compliance program which it launched in Guatemala promptly upon acquiring full ownership of the Comcel operation from its local shareholder in November 2021 ppDOJs reopened investigationppEven after the voluntary selfdisclosure and until the 2021 acquisition Millicom continued to lack operational control over and visibility into the actions of Comcel As previously disclosed Millicom received a subpoena in April 2022 ppAs reflected in todays agreement Millicom and Comcel cooperated fully and extensively with DOJs investigation and provided to DOJ information and access in a way that was not possible in 2015 when Millicom lacked operational control of Comcel The company also took major remediation steps including exiting the general manager and other personnel at Comcel who were involved in misconduct ppResolution with DOJppThe investigation is being resolved through a deferred prosecution agreement DPA between Comcel and DOJ In recognition of the 2015 selfreport and Comcels and Millicoms extensive cooperation and remediation efforts as well as the strength of Millicoms global compliance program the agreement will remain in place for two years rather than a standard threeyear term and DOJ will not require a corporate monitor ppUnder the terms of the agreement Comcel will pay a 60 million fine and forfeit 582 million in approximate benefits derived from the improper payments The fine amount represents a 50 percent discount off the bottom end of the applicable penalty range under the US Sentencing Guidelines the highest penalty discount available under applicable DOJ policy and more than has ever been granted to a company in an FCPArelated agreement of this kind again reflecting Millicoms extensive cooperation and remediation efforts Millicom will also report to DOJ regarding its compliance program during the term of the DPAppAs this resolution reflects for the past decade Millicom has consistently acted as a responsible and transparent company Although this misconduct occurred when we lacked operational control of Comcel Millicom has consistently taken all possible actions to remediate and correct it said Salvador Escalon Chief Legal and Compliance Officer at Millicom As soon as we gained control of Comcel we were finally able to build a stronger more transparent operation just as we have been doing for many years in our other markets Today Comcel operates under our very high Millicom global standardsppMillicom looks forward to continuing its focus on connecting people driving digital inclusion and contributing positively to the development of the markets in which it operatesppENDppFor further information please contact ppAbout MillicomppMillicom NASDAQ TIGO is a leading provider of fixed and mobile telecommunications services in Latin America Through its TIGO and Tigo Business brands the company provides a wide range of digital services and products including TIGO Money for mobile financial services TIGO Sports for local entertainment TIGO ONEtv for pay TV highspeed data voice and businesstobusiness solutions such as cloud and security As of September 30 2025 Millicom including its Honduras Joint Venture employed approximately 14000 people and provided mobile and fibercable services through its digital highways to more than 46 million customers with a fibercable footprint over 14 million homes passed Founded in 1990 Millicom International Cellular SA is headquartered in Luxembourg with principal executive offices in Doral Floridapp
Millicom Tigo Q3 2025 Earnings Release Luxembourg November 6 2025 Millicom is pleased to announce its third quarter 2025 results Please find below links to the Q3 2025 Earnings Release and IAS
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Millicom Tigo acquires Telefónica Ecuador for USD 380 Million strengthening its South American footprint Luxembourg October 30 2025 Millicom International Cellular SA Millicom today
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