Millicom Signs Agreement to Acquire TV Cable Paraná in Paraguay

Millicom (STO:MIC) boosts its cable expansion plans today with the announcement that it will acquire TV Cable Paraná, the leading cable platform in Ciudad del Este, Paraguay’s second largest city. The transaction is subject to regulatory approval.

Millicom’s Home brand Tigo Star already provides pay-TV and broadband in most other urban regions in Paraguay. Tigo is deploying and modernizing both fixed and mobile networks to fulfil the growing need for Paraguayans to connect to the internet. TV Cable Paraná covers around 40,000 homes passed with approximately 15,000 clients.

Mauricio Ramos, Chief Executive of Millicom said: "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. 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.”

About Millicom

Millicom is a leading telecom and media company dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing innovative and customer-centric digital lifestyle services to the world’s emerging markets. The Millicom Group employs more than 16,000 people and provides mobile services to over 62 million customers. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2015, Millicom generated revenue of USD 6.73 billion and Adjusted EBITDA of USD 2.27 billion.

About Tigo Star

Tigo Star, the Home brand of Millicom currently provides pay TV, cable TV and regular broadcasting in Paraguay the cities of Asunción, Lambaré, Luque, San Lorenzo, Fernando de la Mora, Capiatá, Ñemby, Villa Elisa, Mariano Roque Alonso, Itaugua, Aregua, Limpio, San Antonio, Villa Hayes, Ypacarai, Benjamin Aceval, Ita, Ypane, Villeta, Guarambare.

About TV Cable Paraná

TV Cable Paraná is a leading regional cable TV provider in Ciudad del Este. Paraná TV offers users a wide variety of national and international channels with signals from the US, Germany, China, Korea, Argentina, Brazil, Mexico, and Venezuela, including movies, cartoons and sports channels.

This information was brought to you by Cision http://news.cision.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20160215005329/en/