Luxembourg-based telco Millicom, which operates under the Tigo brand, has completed its acquisition of Cablevision Paraguay.
The global firm, which has a presence in 13 countries in Latin America and Africa, assumed management control of Cablevision…
Luxembourg-based telco Millicom, which operates under the Tigo brand, has completed its acquisition of Cablevision Paraguay.
The global firm, which has a presence in 13 countries in Latin America and Africa, assumed management control of Cablevision Paraguay from 1 October.
As TelecomFinance previously reported, the Paraguayan regulator decided to clear the deal despite calls from local competitors to block the purchase on antitrust grounds.
Millicom agreed to acquire Cablevision Paraguay in July for US$150m from Argentine conglomerate Grupo Clarin. In 2011, Cablevision generated revenues of US$50.6m and EDITDA of US$20m.
“For the past 20 years, Paraguay has been a test-bed for us when it comes to offering innovative services,” said Mikael Grahne, CEO of Millicom, about the transaction in July. “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.”
