Telecommunications company Millicom, based in Luxembourg, recently said it plans to purchase Paraguay's TV Cable Parana.
TV Cable Parana is the leading cable provider in Ciudad del Este, Paraguay's second largest city, and offers a variety of national and international channels for 15,000 subscribers.
“This acquisition is an example of an investment that adds value to our core business and which will deliver multiple post-merger synergies, leveraging our existing assets in Paraguay such as our network, our customer base and our content," Millicom CEO Mauricio Ramos said. "Our stated strategy is to be one of the major players in cable TV in our markets and the addition of this asset will further extend our cable TV footprint into the geographically desirable eastern city of Ciudad del Este."
Millicom already provides digital services to urban regions throughout Paraguay under its home brand, Tigo Star. These regions include Guarambare, Itaugua, Luque, San Lorenzo, Villa Hayes and Villeta. In addition to pay-TV, cable TV and regular broadcasting, the company is working to meet Paraguayans' increasing demand for Internet access by deploying and modernizing fixed and mobile networks.
Millicom offers its services to more than 60 million customers in markets across Latin America and Africa.