Keith Smith, Portfolio Manager at Bonhoeffer Capital, discusses his thesis for Millicom ($TIGO). TIGO is trading at a super low multiple and a recent deal that the CEO described as a "no brainer" will result in a rights offering for TIGO, which could set the stock up as a special situation as well. Keith breaks down why he likes TIGO versus other telecom stocks, why he thinks the stock is so cheap, and the hidden value potential at TIGO money.

You can find all my writings here: https://yetanothervalueblog.substack....
My notes on TIGO: https://twitter.com/AndrewRangeley/st...
Keith's twitter: https://twitter.com/Bonhoeffer_KDS

Chapters
0:00 Intro
1:20 TIGO overview
4:30 How TIGO's ownership culture sets them apart
8:30 TIGO background
11:50 More on TIGO's culture and their CHTR like model
15:55 Why TIGO over other telecoms like LILAK or LUMN?
23:30 TIGO money, TIGO's big fintech call option
31:00 Discussing TIGO's largest market, Guatemala
36:00 Breaking down TIGO's rights offering
43:00 Is TIGO's equity focused culture a red flag?
46:05 A mini-rant on Liberty's management compensation
48:40 Could TIGO be a perennial value trap?
54:20 LILAK's 2019 bid for TIGO: value marker or red flag?
58:30 Keith's closing TIGO thoughts
1:02:30 Bonus discussion on broadcasters like NXST

Keith Smith thinks TIGO is a cheap special situation

Yet Another Value Podcast