Paraguay: Millicom to acquire TV Cable Paraná
February 15, 2016
Millicom has boosted its cable expansion plans with the announcement that it will acquire TV Cable Paraná, the leading cable platform in Ciudad del Este, Paraguay’s second largest city. The transaction is subject to regulatory approval.
Millicom’s Home brand Tigo Star already provides pay-TV and broadband in most other urban regions in Paraguay. Tigo is deploying and modernising both fixed and mobile networks to fulfil the growing need for Paraguayans to connect to the internet. TV Cable Paraná covers around 40,000 homes passed with approximately 15,000 clients.
Mauricio Ramos, Chief Executive of Millicom said: “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. 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.”