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