Tigo, the local unit of Luxembourg-based telecoms operator Millicom, has agreed to acquire a majority stake in the Paraguayan cable operator Cablevision for US$200m, to be paid over 10 years, according to a local media report.
Millicom said it would not…
Tigo, the local unit of Luxembourg-based telecoms operator Millicom, has agreed to acquire a majority stake in the Paraguayan cable operator Cablevision for US$200m, to be paid over 10 years, according to a local media report.
Millicom said it would not comment on rumours or speculation. A spokeswoman for Grupo Clarin, the Argentine conglomerate that currently owns Cablevision, said they were only rumours.
Citing industry sources, Paraguayan newspaper La Nacion reported that Tigo, Millicom’s local unit, had acquired all the shares of Grupo Clarin’s businesses in Paraguay.
The newspaper reported that Grupo Clarin holds 70% of six businesses in Paraguay. These include Cablevision and some broadcasters.
The businessman Gustavo Pedrozo holds the remaining 30%.
Grupo Clarin has said previously that it is looking for a “strategic partner” for Cablevision in Paraguay.
Cablevision provides cable TV and internet services.