03:20 PM EDT, 06/16/2025 (MT Newswires) -- Millicom International Cellular ( TIGO ) said late Friday it partially closed its infrastructure deal with SBA Communications ( SBAC ) to sell its mobile passive infrastructure assets in Central America via LATI International.

The completed closings have generated almost $600 million in proceeds, and the remaining transaction of $975 million is expected to be completed in Q3, according to a statement.

Millicom's board also plans to approve a special cash dividend of $2.50 per share, payable in two equal tranches on October 15, 2025 and April 15, 2026, the company said.

TIGO shares were up 1.4% while SBAC shares were edging 0.6% higher in recent trading.

Price: 38.20, Change: +0.52, Percent Change: +1.38