<SEC-DOCUMENT>0000950103-22-008955.txt : 20220523
<SEC-HEADER>0000950103-22-008955.hdr.sgml : 20220523
<ACCEPTANCE-DATETIME>20220523060508
ACCESSION NUMBER:		0000950103-22-008955
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220523
DATE AS OF CHANGE:		20220523

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MILLICOM INTERNATIONAL CELLULAR SA
		CENTRAL INDEX KEY:			0000912958
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO TELEPHONE COMMUNICATIONS [4812]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-263203
		FILM NUMBER:		22949493

	BUSINESS ADDRESS:	
		STREET 1:		2, RUE DU FORT
		CITY:			BOURBON
		STATE:			N4
		ZIP:			L-1249
		BUSINESS PHONE:		3524571451

	MAIL ADDRESS:	
		STREET 1:		2, RUE DU FORT
		CITY:			BOURBON
		STATE:			N4
		ZIP:			L-1249

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MILLICOM INTERNATIONAL CELLULAR SA
		CENTRAL INDEX KEY:			0000912958
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO TELEPHONE COMMUNICATIONS [4812]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		2, RUE DU FORT
		CITY:			BOURBON
		STATE:			N4
		ZIP:			L-1249
		BUSINESS PHONE:		3524571451

	MAIL ADDRESS:	
		STREET 1:		2, RUE DU FORT
		CITY:			BOURBON
		STATE:			N4
		ZIP:			L-1249
</SEC-HEADER>
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<SEQUENCE>1
<FILENAME>dp173599_fwp-shactnom.htm
<DESCRIPTION>FORM FWP
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>FREE WRITING PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed pursuant to Rule 433</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration Statement No. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>333-263203</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MILLICOM INTERNATIONAL CELLULAR S.A.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTICE TO SHAREHOLDERS WHO ARE ACTING AS NOMINEES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Up to 70,357,088 Common Shares Issuable Upon Exercise
of Transferable Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-weight: normal">May 23, 2022</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Enclosed for your consideration
is a prospectus supplement, dated May 18, 2022 (as amended and supplemented from time to time, the &ldquo;<B>Prospectus Supplement</B>&rdquo;),
and the accompanying prospectus, dated March 1, 2022 (together with the Prospectus Supplement, the &ldquo;<B>Prospectus</B>&rdquo;), relating
to the offering by Millicom International Cellular S.A. (the &ldquo;<B>Company</B>&rdquo;) of transferable subscription rights (the &ldquo;<B>Rights</B>&rdquo;)
to subscribe for up to an aggregate of 70,357,088 common shares (as such amount may be adjusted as described in the Prospectus Supplement),
par value $1.50 per share (the &ldquo;<B>Common Shares</B>&rdquo;). The rights will be issued to shareholders of record (the &ldquo;<B>Record
Date Shareholders</B>&rdquo;) as of 5:00 p.m., New York City time, on May 23, 2022 (the &ldquo;<B>Record Date</B>&rdquo;). The Rights
are offered on the terms and subject to the conditions described in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Rights may be exercised
at any time during the subscription period, which commences on May 27, 2022 and ends at 5:00 p.m., New York City time, on June 13, 2022
(the &ldquo;<B>Expiration Date</B>&rdquo;). The Rights are transferable and are expected to be listed for trading on the Nasdaq Global
Select Market under the symbol &ldquo;TIGOR.&rdquo; The Common Shares are listed on the Nasdaq Global Select Market under the symbol &ldquo;TIGO.&rdquo;
No assurance can be given that a market for the Rights will develop. If you are a beneficial owner of Common Shares that are held of record
in the name of a broker, bank or other nominee, you should ask that entity to effect the sale of your Rights or the purchase of other
Rights that may be available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As described in the Prospectus,
each Record Date Shareholder is entitled to receive one Right for each outstanding Common Share owned on the Record Date. The Rights entitle
the holder thereof to purchase seven new Common Shares for every ten Rights held (the &ldquo;<B>Primary Subscription</B>&rdquo;) at the
subscription price of $10.61 per share (the &ldquo;<B>Subscription Price</B>&rdquo;). To the extent that there are any unexercised Rights,
Record Date Shareholders who fully exercise their Rights pursuant to the Primary Subscription will be entitled to subscribe for additional
shares on the terms and subject to the conditions set forth in the Prospectus, including proration. In addition, non-Record Date Shareholders
who fully exercise the Rights acquired will be entitled to subscribe for additional shares on the terms and subject to the conditions
set forth in the Prospectus, including proration. The Company refers to these oversubscription privileges as the &ldquo;<B>Oversubscription
Privilege</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Rights will be evidenced
by book entries on the register maintained by the transfer agent and may be exercised by using the appropriate common share rights subscription
form (the &ldquo;<B>Common Share Rights Subscription Forms</B>&rdquo;) registered in your name or the name of your nominee. Each beneficial
owner of Common Shares registered in your name or the name of your nominee is entitled to one Right for every one Common Share owned by
such beneficial owner as of the Record Date. No fractional Common Shares will be issued pursuant to the Rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Rights holders who exercise
their Rights will have no right to rescind their subscription after receipt of their completed Common Share Rights Subscription Form together
with payment for shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company is asking persons
who hold Common Shares beneficially, and who have received the Rights distributable with respect to those shares through a broker-dealer,
trust company, bank or other nominee, to contact the appropriate institution or nominee and request it to effect the transactions for
them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Enclosed are copies of the
following documents:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Prospectus;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
letter to the Company&rsquo;s shareholders, dated May 23, 2022; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
form of letter which may be sent to beneficial holders of Common Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Rights not exercised on or
prior to the Expiration Date will expire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additional copies of the enclosed
materials may be obtained from the Information Agent, Broadridge Corporate Issuer Solutions, Inc., toll-free at the following telephone
number: (888) 789-8409 or via email at shareholder@broadridge.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>ANY QUESTIONS OR REQUESTS
FOR ASSISTANCE CONCERNING THE RIGHTS OFFERING SHOULD BE DIRECTED TO BROADRIDGE CORPORATE ISSUER SOLUTIONS, INC., THE INFORMATION AGENT,
TOLL-FREE AT THE FOLLOWING TELEPHONE NUMBER: (888) 789-8409 OR VIA EMAIL AT SHAREHOLDER@BROADRIDGE.COM.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOTHING HEREIN OR IN THE
ENCLOSED DOCUMENTS SHALL MAKE YOU OR ANY OTHER PERSON AN AGENT OF THE COMPANY, THE UNDERWRITERS, THE SUBSCRIPTION AGENT, THE INFORMATION
AGENT OR ANY OTHER PERSON MAKING OR DEEMED TO BE MAKING OFFERS OF THE SECURITIES ISSUABLE UPON VALID EXERCISE OF THE RIGHTS, OR AUTHORIZE
YOU OR ANY OTHER PERSON TO MAKE ANY STATEMENTS ON BEHALF OF ANY OF THEM WITH RESPECT TO THE OFFERING, EXCEPT FOR STATEMENTS MADE IN THE
PROSPECTUS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>U.S. Securities laws require
that any person that subscribes for Common Shares by exercising their Rights must receive a notice of registration, within two (2) business
days following the completion of the sale, substantially as follows:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>This sale is
made pursuant to pursuant to a registration statement (including a prospectus) and a related prospectus supplement filed with the U.S.
Securities and Exchange Commission.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Important Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This communication is not
an offer to sell or the solicitation of an offer to buy any securities, and neither we nor Millicom will offer or sell the securities
referred to herein in any jurisdiction in which such offer or sale would be unlawful. The offering referred to in this communication may
be made in the United States only by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Millicom filed a registration
statement (including a prospectus) with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on March 1, 2022 covering, among
other things, the Rights and Common Shares to be issued upon the exercise thereof, to which this communication relates. The prospectus
in that registration statement, together with the related prospectus supplement that Millicom filed with the SEC on May 18, 2022 and the
documents incorporated by reference in the prospectus and prospectus supplement, as well as other documents Millicom has filed with the
SEC, are available for free by visiting EDGAR on the SEC&rsquo;s website at www.sec.gov or by contacting us at the number or e-mail address
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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