Millicom International Cellular (MIC) has confirmed that it has rebranded its Panamanian Cable Onda subsidiary under its preferred Tigo brand name. The company stated: ‘Today begins a new era for telecommunications in the country, that will impact social development and economic recovery: Cable Onda becomes Tigo.’
In October 2018 Millicom announced that it was acquiring an 80% stake in Cable Onda for just over USD1.0 billion. The transaction closed in December 2018, with the selling shareholders retaining a 20% equity stake in the company.
Millicom previously rebranded Telefonica Moviles Panama (Movistar) – acquired in August 2019 – as Tigo in August 2020. The group went on to rebrand its Panama-based B2B units Telecarrier and Movistar Negocios as Tigo Business on 25 September 2020.