Millicom acquires cable operator in Paraguay
16 February 2016 |
Millicom is to purchase cable platform TV Cable Parana in Paraguay in a bid to bolster its cable expansion plans.
With the acquisition, Millicom will gain TV Cable Parana’s estimated 15,000 customers across 40,000 homes. Millicom’s Tigo Star is already a provider of pay TV and broadband services in most of the country’s urban regions.
“This acquisition is an example of an investment that adds value to our core business and which will deliver multiple post-merger synergies, leveraging our existing assets in Paraguay such as our network, our customer base and our content,” said Mauricio Ramos, CEO of Millicom.
“Our stated strategy is to be one of the major players in cable TV in our markets and the addition of this asset will further extend our cable TV footprint into the geographically desirable eastern city of Ciudad del Este.”
The transaction is subject to regulatory approval.