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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on October 23, 2019</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right; border-bottom: Black 4.5pt double; padding-bottom: 5pt"><B>Registration
No. 333-______</B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION&nbsp;</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549&nbsp;</P>



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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM S-8</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MILLICOM INTERNATIONAL CELLULAR S.A.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

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    <TD STYLE="width: 34%; text-align: center"><B>Grand Duchy of Luxembourg</B></TD>
    <TD STYLE="width: 33%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; text-align: center"><FONT STYLE="background-color: aqua"><B>98-0390444</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction of<BR>
Incorporation or Organization)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer<BR>
Identification Number)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><B>2, Rue du Fort Bourbon,<BR>
L-1249 Luxembourg<BR>
Grand Duchy of Luxembourg<BR>
+352-277-59094</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt">&nbsp;(Address
                                         of Principal Executive Offices, Including Zip Code)</FONT></P></TD></TR>
</TABLE>


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    <TD STYLE="width: 100%; text-align: center"><B>Millicom International Cellular S.A. Long-Term Incentive Performance Share and <BR>
Deferred Short-Term Incentive Share Program</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 9pt">(Full title of the plan)</FONT></TD></TR>
</TABLE>


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    <TD STYLE="width: 100%; text-align: center"><B>CT Corporation System<BR>
28 Liberty Street<BR>
New York, NY 10005<BR>
+1 212-894-8800</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 9pt">(Name, address and telephone number, including area code, of agent
    for service)</FONT></TD></TR>
</TABLE>


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    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 34%; text-align: center"><B><I>With a copy to:</I></B></TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><B>John Meade<BR>
Davis Polk &amp; Wardwell LLP<BR>
450 Lexington Avenue<BR>
New York, NY 10017<BR>
(212) 450-4000</B></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth
company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting
company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

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    <TD STYLE="width: 50%; text-indent: 0in">Large accelerated filer &nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="width: 50%; text-indent: 0in">Accelerated filer &nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">Non-accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT> &nbsp;(Do not check if a smaller reporting company)</TD>
    <TD STYLE="text-indent: 0in">Smaller reporting company &nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD></TR>
</TABLE>


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<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="border-bottom: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 38%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center; font-weight: bold">Title Of Each Class<BR>
Of Securities To Be Registered</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center; font-weight: bold">Amount To Be Registered(1)</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center; font-weight: bold">Proposed Maximum Offering Price Per Unit</TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center; font-weight: bold">Proposed Maximum Aggregate Offering Price(1)</TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Amount Of<BR>
Registration Fee(2)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double">Common Shares (par value $1.50 per share) to be issued in connection with the Long-Term Incentive Performance Share and Deferred Short-Term Incentive Program&#9;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: right">5,000,000</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double">$&#9;48.51</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double">$&#9;242,525,000</TD>
    <TD STYLE="border-bottom: Black 1.5pt double">$&#9;31,479.75</TD></TR>
</TABLE>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), this Registration
Statement shall also cover any Common Share, nominal value $1.50 per share (&ldquo;Common Shares&rdquo;), of Millicom International
Cellular S.A. that become issuable under the plans covered by the Millicom International Cellular S.A. Long-Term Incentive Performance
Share and Deferred Short-Term Incentive Share Program (the &ldquo;Program&rdquo;) by reason of any share dividend, share split,
recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding
Common Shares.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Estimated in accordance with Rules 457(c) and 457(h) of the Securities Act, solely for the purpose of calculating the registration
fee, based on the average of the high and low sales prices per Common Share as reported on the Nasdaq Stock Market on October 17,
2019.</TD></TR></TABLE>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INTRODUCTORY STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">This Registration Statement on Form S-8
(the &ldquo;Registration Statement&rdquo;) is prepared to register the issuance of a maximum number of 5,000,000 shares of common
stock of Millicom International Cellular, S.A., a public limited company incorporated under the laws of the Grand Duchy of Luxembourg
(the &ldquo;Registrant&rdquo;) that are reserved for issuance upon the settlement of performance-based awards that have been issued
under the Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The information specified in Item 1 and
Item 2 of Part I of Form S-8 is omitted from this filing with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
in accordance with the provisions of Rule 428 under the Securities Act and the introductory note to Part I of the Form S-8 instructions.
The documents containing the information specified in Part I will be delivered to the participants in the Program as required by
Rule 428(b)(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART II<BR>
<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 3. Incorporation of Documents by Reference.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The following documents, which have been
filed by Registrant with the United States Securities and Exchange Commission (the &ldquo;Commission&rdquo;) pursuant to the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), are incorporated by reference in, and shall be deemed to be
a part of, this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registrant&rsquo;s
Annual Report on Form 20-F for the fiscal year ended December 31, 2018, filed with the Commission on February 28, 2019, as amended
on April 15, 2019;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Registrant&rsquo;s
Annual Report on Form 20-F referred to in clause (a) above; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
description of the Registrant&rsquo;s common shares, par value $ 1.50 per share, which is contained in the Registrant&rsquo;s Form
20-F (File No. 001-38763), filed with the Commission on December 13, 2018, including any amendment or report for the purpose of
updating such description.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">All documents filed by Registrant pursuant
to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date of this Registration Statement and prior to the filing
of a post-effective amendment that indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold, are incorporated by reference in this Registration Statement and are a part hereof from the date of filing
of such documents; except as to any portion of any future annual or quarterly report to stockholders or document or current report
furnished under current Items 2.02 or 7.01 of Form 8-K that is not deemed filed under such provisions. Any statement contained
in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes
of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which
also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4. Description of Securities.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable. See the description of
the Registrant&rsquo;s common shares contained in the Registration Statement on Form 20-F (File No. 001-38763), filed with the
Commission on December 13, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5. Interests of Named Experts and Counsel.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 6. Indemnification of Directors and Officers.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the provisions of Luxembourg
law, Registrant may not indemnify a director or officer for criminal liability, gross negligence, fraud, willful misconduct, or
an intentional breach of his or her statutory duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Registrant shall indemnify any director
or officer and his or her heirs, executors and administrators for any damages, compensation and costs to be paid by him or her
and any expenses reasonably incurred by him or her as a consequence of, or in connection with any action, suit or proceeding to
which he or she may be a party by reason of him or her being or having been a director or officer of Registrant, or, at the request
of Registrant, of any other company of which Registrant is a shareholder or creditor, except in relation to matters as to which
he or she shall be finally judged in such action, suit or proceeding to be liable for gross negligence or willful misconduct; in
the event of a settlement, indemnification shall be provided only in connection with such matters covered by the settlement as
to which Registrant is advised by its legal counsel that the person to be indemnified did not commit such breach of duty. The foregoing
right of indemnification shall not exclude other rights to which he or she may be entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The indemnification by Registrant
shall include the right of Registrant to pay or reimburse a defendant&rsquo;s reasonable legal costs before any proceeding or
investigation against the defendant which has resulted in a final judgment, settlement or conclusion, provided that
Registrant&rsquo;s directors shall have determined in good faith that the defendant&rsquo;s actions did not constitute
willful and deliberate violations of the Luxembourg law of 10 August 1915 on commercial companies, as amended, and shall have
obtained the relevant legal advice to that effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 7. Exemption from Registration Claimed.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 8. Exhibits.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; border-bottom: Black 0.5pt solid"><B>Exhibit <BR>
Number</B></P></TD>
    <TD STYLE="width: 91%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/912958/000114420418064439/tv508661_ex1-1.htm" STYLE="color: Blue">4.1</A></TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/912958/000114420418064439/tv508661_ex1-1.htm" STYLE="color: Blue">Consolidated Articles of Association of Millicom International Cellular S.A. (incorporated herein by reference to Exhibit 1.1 to Registrant&rsquo;s Registration Statement on Form 20-F (File No. 001-38763) filed with the SEC on December 13, 2018)</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="dp114576_ex0501.htm" STYLE="color: Blue">5.1</A></TD>
    <TD><A HREF="dp114576_ex0501.htm" STYLE="color: Blue">Opinion of Hogan Lovells (Luxembourg) LLP, counsel for Registrant, as to the legality of the securities being registered (filed herewith)</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="dp114576_ex2301.htm">23.1</A></TD>
    <TD><A HREF="dp114576_ex2301.htm">Consent of Independent Registered Public Accounting Firm (Luxembourg) (filed
    herewith)</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="dp114576_ex2302.htm">23.2</A></TD>
    <TD><A HREF="dp114576_ex2302.htm">Consent of Independent Auditors (Guatemala City) (filed herewith)</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="dp114576_ex0501.htm">23.3</A></TD>
    <TD><A HREF="dp114576_ex0501.htm">Consent of Hogan Lovells (Luxembourg) LLP, counsel for Registrant (included in Exhibit 5.1)</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#poa" STYLE="color: Blue">24</A></TD>
    <TD><A HREF="#poa" STYLE="color: Blue">Powers of Attorney (included in signature pages hereof)</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="dp114576_ex9901.htm" STYLE="color: Blue">99.1</A></TD>
    <TD><A HREF="dp114576_ex9901.htm" STYLE="color: Blue">The Millicom International Cellular S.A. Long-Term Incentive Performance Share and Deferred Short-Term Incentive Share Program (filed herewith)</A></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 9. Undertakings.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any prospectus required by Section 10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate
offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in this registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any material information with respect to the Program not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>provided</I>, <I>however</I>, that paragraphs
(a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs
is contained in periodic reports filed with or furnished to the Commission by Registrant pursuant to Section 13 or Section 15(d)
of the Exchange Act that are incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of Registrant&rsquo;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each
filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of Registrant pursuant to the provisions referenced in Item 6 of this Registration Statement, or otherwise, Registrant has been
advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by Registrant of expenses incurred or paid by a director, officer, or controlling person of Registrant
in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection
with the securities being registered hereunder, Registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Act, Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the
Grand Duchy of Luxembourg, on the 23<SUP>rd</SUP> day of October, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 35%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><B>MILLICOM INTERNATIONAL CELLULAR S.A.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">By:</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid">/s/ Mauricio Ramos</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 15%">Name:</TD>
    <TD STYLE="width: 77%">Mauricio Ramos</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>President and Chief Executive Officer</TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 35%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><B>U.S.-based agent of service</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">By:</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid">/s/ Salvador Escalon</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 15%">Name:</TD>
    <TD STYLE="width: 77%">Salvador Escalon</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Authorized Representative in the United States</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="poa"></A>POWER OF ATTORNEY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">KNOW ALL PERSONS BY THESE PRESENT, that
each person whose signature appears below, constitutes and appoints Mauricio Ramos, Tim Pennington and Salvador Escalon, and each
of them, our true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, to do any and all
acts and things and execute, in the name of the undersigned, any and all instruments which said attorneys-in-fact and agents may
deem necessary or advisable in order to enable Millicom International Cellular S.A. to comply with the Securities Act of 1933,
as amended, and any requirements of the Securities and Exchange Commission in respect thereof, in connection with the filing with
the Securities and Exchange Commission of one or more registration statements on Form S-8 under the Securities Act of 1933, as
amended, including, specifically, but without limitation, power and authority to sign the name of the undersigned to any such registration
statement, and any amendments to any such registration statement (including post-effective amendments), and to file the same with
all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, to sign any and
all applications, registration statements, notices or other documents necessary or advisable to comply with applicable state securities
laws, and to file the same, together with other documents in connection therewith with the appropriate state securities authorities,
granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and to perform each and every
act and thing requisite or necessary to be done in and about the premises, as fully and to all intents and purposes as the undersigned
might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, and any of them, or their
substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates
indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27%; text-align: center; font-weight: bold"><U>Signature</U></TD>
    <TD STYLE="width: 50%; text-align: center; font-weight: bold"><U>Title</U></TD>
    <TD STYLE="width: 23%; text-align: center; font-weight: bold"><U>Date</U></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Mauricio Ramos</TD>
    <TD STYLE="text-align: center">President and Chief Executive Officer and Director<BR>
(principal executive officer)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Mauricio Ramos</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Tim Pennington</TD>
    <TD STYLE="text-align: center">Senior Executive Vice President and Chief Financial Officer<BR>
(principal financial officer and principal accounting officer)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Tim Pennington</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jos&eacute; Antonio R&iacute;os Garc&iacute;a</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Jos&eacute; Antonio R&iacute;os Garc&iacute;a</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Pernille Erenbjerg</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Pernille Erenbjerg</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Odilon Almeida</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Odilon Almeida</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Janet Davidson</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Janet Davidson</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Tomas Eliasson</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Tomas Eliasson</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Mercedes Johnson</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Mercedes Johnson</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 27%">/s/ Lars-&Aring;ke Norling</TD>
    <TD STYLE="text-align: center; width: 50%">Director</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 23%">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Lars-&Aring;ke Norling</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ James Thompson</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">James Thompson</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Salvador Escalon</TD>
    <TD STYLE="text-align: center">Authorized Representative in the United States</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">October 23, 2019</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">Salvador Escalon</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>


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[{"type": "S-8", "sequence": "1", "filename": "dp114576_s8.htm", "description": "FORM S-8", "secsgml_size_bytes": 47458}]
{"company-data": {"conformed-name": "MILLICOM INTERNATIONAL CELLULAR SA", "cik": "0000912958", "assigned-sic": "4812", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-234307", "film-number": "191164469"}, "business-address": {"street1": "2, RUE DU FORT", "city": "BOURBON", "state": "N4", "zip": "L-1249", "phone": "3524571451"}, "mail-address": {"street1": "2, RUE DU FORT", "city": "BOURBON", "state": "N4", "zip": "L-1249"}}
As filed with the Securities and Exchange
Commission on October 23, 2019
Registration
No. 333-______
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
MILLICOM INTERNATIONAL CELLULAR S.A.
(Exact Name of Registrant as Specified in
Its Charter)
Grand Duchy of Luxembourg
98-0390444
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer
Identification Number)
2, Rue du Fort Bourbon,
L-1249 Luxembourg
Grand Duchy of Luxembourg
+352-277-59094
(Address
                                         of Principal Executive Offices, Including Zip Code)
Millicom International Cellular S.A. Long-Term Incentive Performance Share and
Deferred Short-Term Incentive Share Program
(Full title of the plan)
CT Corporation System
28 Liberty Street
New York, NY 10005
+1 212-894-8800
(Name, address and telephone number, including area code, of agent
    for service)
With a copy to:
John Meade
Davis Polk & Wardwell LLP
450 Lexington Avenue
New York, NY 10017
(212) 450-4000
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth
company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting
company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
(Do not check if a smaller reporting company)
Smaller reporting company
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Emerging growth company
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CALCULATION OF REGISTRATION FEE
Title Of Each Class
Of Securities To Be Registered
Amount To Be Registered(1)
Proposed Maximum Offering Price Per Unit
Proposed Maximum Aggregate Offering Price(1)
Amount Of
Registration Fee(2)
Common Shares (par value $1.50 per share) to be issued in connection with the Long-Term Incentive Performance Share and Deferred Short-Term Incentive Program
5,000,000
$	48.51
$	242,525,000
$	31,479.75
(1)
Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the "Securities Act"), this Registration
Statement shall also cover any Common Share, nominal value $1.50 per share ("Common Shares"), of Millicom International
Cellular S.A. that become issuable under the plans covered by the Millicom International Cellular S.A. Long-Term Incentive Performance
Share and Deferred Short-Term Incentive Share Program (the "Program") by reason of any share dividend, share split,
recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding
Common Shares.
(2)
Estimated in accordance with Rules 457(c) and 457(h) of the Securities Act, solely for the purpose of calculating the registration
fee, based on the average of the high and low sales prices per Common Share as reported on the Nasdaq Stock Market on October 17,
2019.
INTRODUCTORY STATEMENT
This Registration Statement on Form S-8
(the "Registration Statement") is prepared to register the issuance of a maximum number of 5,000,000 shares of common
stock of Millicom International Cellular, S.A., a public limited company incorporated under the laws of the Grand Duchy of Luxembourg
(the "Registrant") that are reserved for issuance upon the settlement of performance-based awards that have been issued
under the Program.
PART I
The information specified in Item 1 and
Item 2 of Part I of Form S-8 is omitted from this filing with the Securities and Exchange Commission (the "Commission")
in accordance with the provisions of Rule 428 under the Securities Act and the introductory note to Part I of the Form S-8 instructions.
The documents containing the information specified in Part I will be delivered to the participants in the Program as required by
Rule 428(b)(1).
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents, which have been
filed by Registrant with the United States Securities and Exchange Commission (the "Commission") pursuant to the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), are incorporated by reference in, and shall be deemed to be
a part of, this Registration Statement:
(a)       Registrant's
Annual Report on Form 20-F for the fiscal year ended December 31, 2018, filed with the Commission on February 28, 2019, as amended
on April 15, 2019;
(b)       All
reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Registrant's
Annual Report on Form 20-F referred to in clause (a) above; and
(c)       The
description of the Registrant's common shares, par value $ 1.50 per share, which is contained in the Registrant's Form
20-F (File No. 001-38763), filed with the Commission on December 13, 2018, including any amendment or report for the purpose of
updating such description.
All documents filed by Registrant pursuant
to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date of this Registration Statement and prior to the filing
of a post-effective amendment that indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold, are incorporated by reference in this Registration Statement and are a part hereof from the date of filing
of such documents; except as to any portion of any future annual or quarterly report to stockholders or document or current report
furnished under current Items 2.02 or 7.01 of Form 8-K that is not deemed filed under such provisions. Any statement contained
in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes
of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which
also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable. See the description of
the Registrant's common shares contained in the Registration Statement on Form 20-F (File No. 001-38763), filed with the
Commission on December 13, 2018.
Item 5. Interests of Named Experts and Counsel.
None.
Item 6. Indemnification of Directors and Officers.
Pursuant to the provisions of Luxembourg
law, Registrant may not indemnify a director or officer for criminal liability, gross negligence, fraud, willful misconduct, or
an intentional breach of his or her statutory duties.
Registrant shall indemnify any director
or officer and his or her heirs, executors and administrators for any damages, compensation and costs to be paid by him or her
and any expenses reasonably incurred by him or her as a consequence of, or in connection with any action, suit or proceeding to
which he or she may be a party by reason of him or her being or having been a director or officer of Registrant, or, at the request
of Registrant, of any other company of which Registrant is a shareholder or creditor, except in relation to matters as to which
he or she shall be finally judged in such action, suit or proceeding to be liable for gross negligence or willful misconduct; in
the event of a settlement, indemnification shall be provided only in connection with such matters covered by the settlement as
to which Registrant is advised by its legal counsel that the person to be indemnified did not commit such breach of duty. The foregoing
right of indemnification shall not exclude other rights to which he or she may be entitled.
The indemnification by Registrant
shall include the right of Registrant to pay or reimburse a defendant's reasonable legal costs before any proceeding or
investigation against the defendant which has resulted in a final judgment, settlement or conclusion, provided that
Registrant's directors shall have determined in good faith that the defendant's actions did not constitute
willful and deliberate violations of the Luxembourg law of 10 August 1915 on commercial companies, as amended, and shall have
obtained the relevant legal advice to that effect.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit
Number
4.1
Consolidated Articles of Association of Millicom International Cellular S.A. (incorporated herein by reference to Exhibit 1.1 to Registrant's Registration Statement on Form 20-F (File No. 001-38763) filed with the SEC on December 13, 2018)
5.1
Opinion of Hogan Lovells (Luxembourg) LLP, counsel for Registrant, as to the legality of the securities being registered (filed herewith)
23.1
Consent of Independent Registered Public Accounting Firm (Luxembourg) (filed
    herewith)
23.2
Consent of Independent Auditors (Guatemala City) (filed herewith)
23.3
Consent of Hogan Lovells (Luxembourg) LLP, counsel for Registrant (included in Exhibit 5.1)
24
Powers of Attorney (included in signature pages hereof)
99.1
The Millicom International Cellular S.A. Long-Term Incentive Performance Share and Deferred Short-Term Incentive Share Program (filed herewith)
Item 9. Undertakings.
(a)       The
undersigned Registrant hereby undertakes:
(1)       To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)       To
include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)       To
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee" table in this registration statement; and
(iii)       To
include any material information with respect to the Program not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement;
provided
,
however
, that paragraphs
(a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs
is contained in periodic reports filed with or furnished to the Commission by Registrant pursuant to Section 13 or Section 15(d)
of the Exchange Act that are incorporated by reference in this Registration Statement.
(2)       That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial
bona fide
offering thereof.
(3)       To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b)       The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each
filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)       Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of Registrant pursuant to the provisions referenced in Item 6 of this Registration Statement, or otherwise, Registrant has been
advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by Registrant of expenses incurred or paid by a director, officer, or controlling person of Registrant
in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection
with the securities being registered hereunder, Registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities
Act, Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the
Grand Duchy of Luxembourg, on the 23
rd
day of October, 2019.
MILLICOM INTERNATIONAL CELLULAR S.A.
By:
/s/ Mauricio Ramos
Name:
Mauricio Ramos
Title:
President and Chief Executive Officer
U.S.-based agent of service
By:
/s/ Salvador Escalon
Name:
Salvador Escalon
Title:
Authorized Representative in the United States
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENT, that
each person whose signature appears below, constitutes and appoints Mauricio Ramos, Tim Pennington and Salvador Escalon, and each
of them, our true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, to do any and all
acts and things and execute, in the name of the undersigned, any and all instruments which said attorneys-in-fact and agents may
deem necessary or advisable in order to enable Millicom International Cellular S.A. to comply with the Securities Act of 1933,
as amended, and any requirements of the Securities and Exchange Commission in respect thereof, in connection with the filing with
the Securities and Exchange Commission of one or more registration statements on Form S-8 under the Securities Act of 1933, as
amended, including, specifically, but without limitation, power and authority to sign the name of the undersigned to any such registration
statement, and any amendments to any such registration statement (including post-effective amendments), and to file the same with
all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, to sign any and
all applications, registration statements, notices or other documents necessary or advisable to comply with applicable state securities
laws, and to file the same, together with other documents in connection therewith with the appropriate state securities authorities,
granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and to perform each and every
act and thing requisite or necessary to be done in and about the premises, as fully and to all intents and purposes as the undersigned
might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, and any of them, or their
substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates
indicated.
Signature
Title
Date
/s/ Mauricio Ramos
President and Chief Executive Officer and Director
(principal executive officer)
October 23, 2019
Mauricio Ramos
/s/ Tim Pennington
Senior Executive Vice President and Chief Financial Officer
(principal financial officer and principal accounting officer)
October 23, 2019
Tim Pennington
/s/ José Antonio Ríos García
Director
October 23, 2019
José Antonio Ríos García
/s/ Pernille Erenbjerg
Director
October 23, 2019
Pernille Erenbjerg
/s/ Odilon Almeida
Director
October 23, 2019
Odilon Almeida
/s/ Janet Davidson
Director
October 23, 2019
Janet Davidson
/s/ Tomas Eliasson
Director
October 23, 2019
Tomas Eliasson
/s/ Mercedes Johnson
Director
October 23, 2019
Mercedes Johnson
/s/ Lars-Åke Norling
Director
October 23, 2019
Lars-Åke Norling
/s/ James Thompson
Director
October 23, 2019
James Thompson
/s/ Salvador Escalon
Authorized Representative in the United States
October 23, 2019
Salvador Escalon