Millicom (Tigo) Announces Partial Closing of Infrastructure Deal with SBA and Intention to Declare a Special Dividend of $2.50 per Share Representing Around 45% of the Proceeds

Rhea-AI Summary

Millicom (TIGO) has announced the partial closing of its infrastructure deal with SBA Communications, selling its mobile passive infrastructure assets in Central America through LATI International S.A. The transaction has generated $600 million in proceeds so far, with the total deal value expected to reach approximately $975 million when fully closed in Q3 2025. Following Q2 results, Millicom plans to distribute a special dividend of $2.50 per share, representing about 45% of net proceeds, to be paid in two equal installments of $1.25 on October 15, 2025, and April 15, 2026. This special dividend comes in addition to the previously announced annual dividend of $3.00 per share. The deal demonstrates Millicom's strategy to monetize infrastructure assets while maintaining its leverage target of 2.0-2.5x.

Positive

• Partial closing generates significant immediate proceeds of $600 million
• Total transaction value expected to reach $975 million upon full closing in Q3 2025
• Special dividend of $2.50 per share announced, in addition to regular $3.00 annual dividend
• Strategic monetization of infrastructure assets while maintaining target leverage ratios

Negative

• Remaining portion of the deal is still pending closure
• Special dividend payment is split into two installments over 6 months

News Market Reaction – TIGO

+1.59%

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+1.59% News Effect

On the day this news was published, TIGO gained 1.59%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Millicom (Tigo) Announces Partial Closing of Infrastructure Deal with SBA and Intention to Declare a Special Dividend of $2.50 per Share Representing Around 45% of the Proceeds

Luxembourg, June 13, 2025 – Millicom International Cellular S.A. (NASDAQ: TIGO) today announced the partial closing of its previously disclosed transaction with SBA Communications Corporation (NASDAQ: SBAC), through the sale of LATI International S.A., the Luxembourg-based holding company for Millicom’s mobile passive infrastructure assets in Central America. To date, completed closings have generated approximately $600 million in proceeds, with the remainder of the approximately $975 million transaction expected to close in Q3 2025.

In conjunction with this strategic milestone, Millicom’s Board of Directors intends, following the publication of Millicom’s Q2 results, to approve the distribution of a special interim cash dividend of $2.50 per share, representing approximately 45% of the net proceeds of the transaction. The dividend will be distributed in two equal installments of $1.25 per share, on or around October 15, 2025 and April 15, 2026.

This special dividend is incremental to Millicom’s previously announced annual dividend of $3.00 per share, further reflecting the Company’s ongoing commitment to shareholder remuneration.

This transaction highlights Millicom’s strategic commitment to monetizing infrastructure assets, strengthening financial flexibility, and generating sustainable shareholder returns—while reaffirming its disciplined approach to capital structure by maintaining its leverage target range of 2.0-2.5x.

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For further information, please contact:

Press:	Investors:
Sofia Corral, Director Corporate Communications press@millicom.com	Michel Morin, VP Investor Relations investors@millicom.com

About Millicom
Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO® and Tigo Business® brands, the company provides a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2025, Millicom, including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.

FAQ

What is the total value of Millicom's infrastructure deal with SBA Communications?

The total transaction value is approximately $975 million, with $600 million already received from partial closing.

How much is TIGO's special dividend and when will it be paid?

TIGO announced a special dividend of $2.50 per share, to be paid in two $1.25 installments on October 15, 2025, and April 15, 2026.

What percentage of the deal proceeds will be distributed to shareholders?

Approximately 45% of the net proceeds will be distributed to shareholders through the special dividend.

What is Millicom's total dividend payment for 2025 including both regular and special dividends?

The total dividend payment will be $5.50 per share, combining the $3.00 regular annual dividend and $2.50 special dividend.

What assets did Millicom sell to SBA Communications?

Millicom sold LATI International S.A., the Luxembourg-based holding company for its mobile passive infrastructure assets in Central America.