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Millicom Buys Paraguay Cable TV Network

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Millicom today announced that it has signed an agreement to buy Cablevisi n Paraguay for USD150 million.

Cablevisión Paraguay began offering TV services in Asunción in 1989 and is the leading provider of cable pay-TV services in Paraguay. At te end of last year, it covered 470, 000 households and had 116,000 cable TV customers, with close to 10% of them subscribing to fixed broadband services. Cablevisión Paraguay has exclusive rights to broadcast Paraguay's soccer championship games.

The offering of high-speed internet access is expected to boost the company's existing mobile network, Tigo in Paraguay.

Mikael Grahne, CEO, commented: "Today's acquisition of Cablevisión Paraguay, the leader in Pay TV in Asunción, is in line with our strategy of offering an increasingly rich customer experience through the organic development of innovative Value Added Services and bolt-on acquisitions. 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. We look forward to welcoming Cablevisión's Paraguay customers and employees to the Tigo family."

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Tags: millicom  tigo  Paraguay