07:15 AM EDT, 05/23/2024 (MT Newswires) -- Millicom International Cellular ( TIGO ) is the potential target of an all-cash takeover bid by minority stakeholder and French telecom businessman Xavier Niel, according to a statement issued Thursday by his holding company, Atlas Investissement.

"Atlas Investissement announces that it is exploring a potential all-cash tender offer for Millicom securities," said the statement.

The company said it was exploring "financing options" to offer a price of $24 per share for Millicom, a telecommunications firm operating mostly in Latin America. Bloomberg valued the offer at about $4.1 billion.

Atlas described the potential buyout interest as "preliminary," adding that it "cannot guarantee that an offer will materialize."

Atlas holds a 29% stake in the company, according to Millicom's latest annual report, Bloomberg reported.

Millicom did not immediately reply to MT Newswires' request for comment.

Shares of the company were up more than 1.5% in recent Thursday premarket activity.

Price: 24.00, Change: +0.42, Percent Change: +1.78