What changed in MILLICOM INTERNATIONAL CELLULAR SA's 20-F — 2024 vs 2025
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Paragraph-level year-over-year comparison of MILLICOM INTERNATIONAL CELLULAR SA's 2024 and 2025 20-F annual filings, covering the Business, Risk Factors, Legal Proceedings, Cybersecurity, MD&A and Market Risk sections. Every new, removed and edited paragraph is highlighted side-by-side so you can see exactly what management changed in the 2025 report.
+7 added−7 removedSource: 20-F (2026-03-24) vs 20-F (2025-04-08)
Top changes in MILLICOM INTERNATIONAL CELLULAR SA's 2025 20-F
7 paragraphs added · 7 removed · 7 edited across 4 sections
- Item 4. Mine Safety Disclosures+2 / −2 · 2 edited
- Item 5. Market for Registrant's Common Equity+2 / −2 · 2 edited
- Item 6. [Reserved]+2 / −2 · 2 edited
- Item 7. Management's Discussion & Analysis+1 / −1 · 1 edited
Item 4. Mine Safety Disclosures
Mine Safety Disclosures — required of mining issuers
2 edited+0 added−0 removed0 unchanged
Item 4. Mine Safety Disclosures
Mine Safety Disclosures — required of mining issuers
2 edited+0 added−0 removed0 unchanged
2024 filing
2025 filing
Biggest changeITEM 4. INFORMATION ON THE COMPANY Information on the Company 46 A. History and Development of the Company Information on the Company - History and Development of the Company 46 B. Business Overview Information on the Company - Business Overview 47 C. Organizational Structure Information on the Company - Organizational Structure and Subsidiaries 56 D.
Biggest changeITEM 4. INFORMATION ON THE COMPANY Information on the Company 47 A. History and Development of the Company Information on the Company - History and Development of the Company 47 B. Business Overview Information on the Company - Business Overview 48 C. Organizational Structure Information on the Company - Organizational Structure and Subsidiaries 59 D.
Property, Plant and Equipment Information on the Company - Business Overview 47
Property, Plant and Equipment Information on the Company - Business Overview 48
Item 5. Market for Registrant's Common Equity
Market for Common Equity — stock, dividends, buybacks
2 edited+0 added−0 removed0 unchanged
Item 5. Market for Registrant's Common Equity
Market for Common Equity — stock, dividends, buybacks
2 edited+0 added−0 removed0 unchanged
2024 filing
2025 filing
Biggest changeITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS Operating and Financial Review and Prospects 58 A. Operating Results Operating and Financial Review and Prospects - Operating Results 58 B. Liquidity and Capital Resources Operating and Financial Review and Prospects - Liquidity and Capital Resources 74 C. Research and Development, Patents and Licenses, etc .
Biggest changeITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS Operating and Financial Review and Prospects 60 A. Operating Results Operating and Financial Review and Prospects - Operating Results 60 B. Liquidity and Capital Resources Operating and Financial Review and Prospects - Liquidity and Capital Resources 76 C. Research and Development, Patents and Licenses, etc .
Information on the Company - Business Overview 47 D. Trend Information Operating and Financial Review and Prospects - Trend Information 78 E. Critical Accounting Estimates Not Applicable
Information on the Company - Business Overview 48 D. Trend Information Operating and Financial Review and Prospects - Trend Information 80 E. Critical Accounting Estimates Not Applicable
Item 6. [Reserved]
Selected Financial Data — reserved (removed by SEC in 2021)
2 edited+0 added−0 removed0 unchanged
Item 6. [Reserved]
Selected Financial Data — reserved (removed by SEC in 2021)
2 edited+0 added−0 removed0 unchanged
2024 filing
2025 filing
Biggest changeITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES Directors, Senior Management and Employees 79 A. Directors and Senior Management Corporate Governance - Board Governance - Board Profile: Skills and Experience; Corporate Governance - Group Leadership Team 117 B. Compensation Directors, Senior Management and Employees - Compensation 79 C. Board Practices Corporate Governance - Board Governance 136 D.
Biggest changeITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES Directors, Senior Management and Employees 81 A. Directors and Senior Management Corporate Governance - Board Governance - Board Profile: Skills and Experience; Corporate Governance - Group Leadership Team 123 B. Compensation Directors, Senior Management and Employees - Compensation 81 C. Board Practices Corporate Governance - Board Governance 136 D.
Employees Directors, Senior Management and Employees - Employees 80 7 E. Share Ownership Corporate Governance - Board Profile: Skills and Experience; Corporate Governance - Group Leadership Team 106 F. Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation None - Not Applicable
Employees Directors, Senior Management and Employees - Employees 82 7 E. Share Ownership Corporate Governance - Board Profile: Skills and Experience; Corporate Governance - Group Leadership Team 108 F. Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation None - Not Applicable
Item 7. Management's Discussion & Analysis
Management's Discussion & Analysis (MD&A) — revenue / margin commentary
1 edited+0 added−0 removed0 unchanged
Item 7. Management's Discussion & Analysis
Management's Discussion & Analysis (MD&A) — revenue / margin commentary
1 edited+0 added−0 removed0 unchanged
2024 filing
2025 filing
Biggest changeITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS See 2 following lines A. Major Shareholders Corporate Governance - Shareholders and Representation of Shareholders 101 B. Related Party Transactions Additional Information - Related Party Transactions 82 C. Interests of Experts and Counsel None - Not Applicable
Biggest changeITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS See 2 following lines A. Major Shareholders Corporate Governance - Shareholders and Representation of Shareholders 104 B. Related Party Transactions Additional Information - Related Party Transactions 84 C. Interests of Experts and Counsel None - Not Applicable