Millicom International Cellular S.A. (NASDAQ:TIGO) shares are trading higher on Friday. Billionaire Xavier Niel reportedly increased his bid for Millicom International to approximately $4.4 billion after the Latin American phone carrier rejected an earlier offer as insufficient. Niel’s Atlas Luxco Sarl has now proposed $25.75 per share in cash, up from the previous $24 per share, reported BNN Bloomberg. Millicom’s independent board committee had previously rejected this bid, with Atlas initially arguing that there were no new reasons justifying a higher price. Meanwhile, the company reported quarterly earnings per share of 46 cents