Millicom International, which operates under the Tigo brand, has agreed to acquire 100% of Cablevision Paraguay for US$150m from Argentine conglomerate Grupo Clarin.
Local media have been suggesting a sale of the cableco since September last year. In…
Millicom International, which operates under the Tigo brand, has agreed to acquire 100% of Cablevision Paraguay for US$150m from Argentine conglomerate Grupo Clarin.
Local media have been suggesting a sale of the cableco since September last year. In late March, reports that turned out to be incorrect circulated claiming that Millicom had acquired Cablevision for US$200m.
Millicom’s acquisition is subject to regulatory approvals and is expected to close towards the end of the year.
Cablevision had revenues of US$50.6m and EDITDA of US$20m for 2011.
No details on how the deal will be financed were released.
“For the past 20 years, Paraguay has been a test-bed for us when it comes to offering innovative services. With today’s deal, we aim to accelerate our entry into broadband at home, offering relevant services to customers in the communication, information and entertainment categories,” said Mikael Grahne, CEO of Millicom.
