Millicom closes Cable Onda takeover

14 Dec 2018

Millicom International Cellular (MIC) has announced that it has closed the acquisition of the 80% controlling interest in Cable Onda, the largest cable and fixed telecom line service provider in Panama. Cable Onda currently passes 715,000 homes with its HFC networks, claiming 365,000 connected homes.

As previously reported by TeleGeography’s CommsUpdate, in October this year MIC agreed to pay just over USD1.0 billion for the stake, which gives Cable Onda an enterprise value of around USD1.5 billion. The selling shareholders will retain a 20% equity stake in the company.

Panama, Millicom International Cellular (MIC), Tigo Panama (formerly Cable Onda)