Cable Technology Feature Article
Millicom International Cellular to Acquire Cablevision Paraguay
By Raju Shanbhag, TMCnet Contributor
Cablevision is a telecommunications and media company which has a portfolio of operations that consists of a full suite of advanced digital television, voice and high-speed Internet services, valuable local media and programming properties, and movie theatres.
Recently, Millicom (News - Alert) International Cellular S.A. signed a binding agreement to acquire 100 percent of Cablevisión Paraguay for an enterprise value of $150 million. The acquisition is subject to customary approvals, which includes the related regulatory authorities in Paraguay. Closing is expected to take place towards the end of 2012.
Cablevisión Paraguay began its services in Paraguay by offering TV services in Asunción in 1989. Today, the company is among the main providers of cable pay-TV services in Paraguay. In 20122, it covered 470, 000 households and had 116,000 cable TV customers. Among these, about 10 percent have subscribed to fixed broadband services. Cablevisión Paraguay has exclusive rights to broadcast Paraguay’s soccer championship games, the company stated in a press release.
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. We look forward to welcoming Cablevisión’s Paraguay customers and employees to the Tigo family.”
Recently, the company announced that it is one of 15 winners in the G20 Challenge on Inclusive Business Innovation.
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Edited by Brooke Neuman