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	Podcast:		Yet Another Value Podcast
	Episode:		Keith Smith thinks TIGO is a cheap special situation
	Category:		Business
	Duration:		01:09:56
	Publish Date:		2022-01-24 12:00:00
	Description:		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
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