Millicom downgrades revenue forecast after second quarter results

July 21, 2016  | Subscribers Only

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Millicom’s revenues for the second quarter of 2016 fell by 7.8% year-on-year (y/y) landing at $1.6 billion with the company facing weak macroeconomic conditions, currency volatility, and strong competition in key markets. As the company could not achieve its intended mid-year target it downgraded its full-year revenue outlook.

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