Millicom pledges further USD 750 mln Panama investment by 2024

News General Panama 11 SEP 2019
Millicom pledges further USD 750 mln Panama investment by 2024

Millicom intends to build on last year's USD 1 billion acquisition of Cable Onda and this year’s USD 650 million acquisition of Telefonica Panama (Movistar) by investing a further USD 750 million to build up its Tigo brand in Panama over the next 5 years. In a statement, Millicom said it has already spent over USD 2 billion to enter the Panama market and is beginning to integrate the Cable Onda and Movistar teams into “a seamless customer-centric company to expand digital highways in Panama”.

Cable Onda currently serves around 350,000 residential customers and is the country’s largest provider of B2B fixed telecommunications services, with Movistar adding over 1.6 million mobile subscribers to Millicom’s customer base in the country.


 

Categories:

General

Companies:

Millicom,  Movistar,  Tigo,  Cable Onda,  Telefonica

Countries:

Panama

Tags:

Production planning & operations

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