SBA Communications Corporation acquired Millicom International Cellular S.A. (Tigo) - Central America towers for approximately $1.0 billion, a transaction completed in October 2025, structured as asset/site purchase (cash) with leaseback and build-to-suit agreements.
Millicom International Cellular S.A. (Tigo) - Central America towers operates in Wireless towers - Central America, is based in Central America (Guatemala, Honduras, Panama, El Salvador, Nicaragua). During 2025 SBA purchased over 7,000 communication sites from Millicom International Cellular S.A. (Tigo) across Central America - Guatemala, Honduras, Panama, El Salvador and Nicaragua - with the final closings completed in October 2025. The FY2025 10-K attributes 7,110 acquired towers to the Millicom transaction. Alongside the purchase SBA agreed to a long-term leaseback and a seven-year exclusivity right to build up to 2,500 build-to-suit sites for Millicom in Central America, each with a 15-year initial lease term.
Secured SBA's position as a leader in its international markets and aligned it with the leading carrier in those markets; the accompanying build-to-suit program gives a multi-year new-site pipeline.
This transaction supports our desire to secure our position as a leader in our international markets and align ourselves with the leading carriers in such markets.SBA Communications, FY2025 Form 10-K, Business section
Advisory firms were not disclosed for this transaction.