Sweden-listed Millicom, which operates under the Tigo brand, is facing resistance from competitors over plans to buy Cablevision Paraguay.
Companies including Telecom Argentina’s Personal, America Movil-owned Claro and Copaco’s Vox have turned to…
Sweden-listed Millicom, which operates under the Tigo brand, is facing resistance from competitors over plans to buy Cablevision Paraguay.
Companies including Telecom Argentina’s Personal, America Movil-owned Claro and Copaco’s Vox have turned to the House of Representatives in an attempt to get the deal blocked on antitrust grounds, local media reported.
According to the reports the companies are asking the House of Representative’s communications committee to prevent telecoms regulator Conatel from approving the transaction, arguing with anti-competitive effects of the deal.
Millicom agreed in July to buy Cablevision for US$150m. In 2011 Cablevision generated revenues of US$50.6m and EDITDA of US$20m.
Millicom said previously that it expects to close the transaction in late 2012.
