10:22 AM EDT, 08/02/2024 (MT Newswires) -- Millicom International Cellular ( TIGO ) shares were up nearly 6% in recent trading Friday after Atlas Investissement subsidiary Atlas Luxco raised its offer for Millicom to $25.75 per common share from $24 previously.

The revised offer values Millicom at around $4.4 billion, according to the company statement.

Last month, Millicom's independent board committee rejected Atlas's previous offer, stating that the $24 per share bid would significantly undervalue the company.

Price: 26.07, Change: +1.46, Percent Change: +5.93