News
Telco snaps up TV Cable Paran to help it boost its reach in Paraguay.
Millicom on Monday announced that it has agreed to buy Paraguayan cable operator TV Cable Paraná.
The deal will enable to increase its cable TV footprint in Paraguay, the telco said, in a statement.
It did not disclose the value of the deal.
TV Cable Paraná is a major player in Paraguay’s second largest city, Ciudad del Este, Millicom said. It has around 15,000 customers and covers 40,000 homes.
Millicom’s Tigo Star operation already provides pay TV and broadband services in most other urban regions in Paraguay, the firm 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," said Millicom CEO Mauricio Ramos.
"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," Ramos added.
The deal is subject to regulatory approval.
