Panama: Cable Onda Changes Ownership

With a $1.460 million investment, Millicom International Celular completed the acquisition of 80% of the capital of Cable Onda, one of the country's telephone, Internet and cable TV operators.

Tuesday, October 9, 2018

Cable Onda announced in a press release that following an extensive conversation process, Cable Onda S.A. and Millicom International Cellular S.A. have established a strategic alliance in which Millicom assumes an important ownership of Cable Onda as well as the business management. The agreement includes Telecarrier and Fronteras Securtity.

Meanwhile, Nicolas Gonzalez, general manager of Cable Onda, said to Prensa.com that they are "... Excited to be Millicom's partners in this next phase of Cable Onda's history, because we have achieved a broad complement of the trajectory and knowledge of Cable Onda's local market, with the international experience offered by a group such as Millicom".

Mauricio Ramos, CEO of Millicom, explained that "... Our vision is to work together with our strong local partners and with all of Cable Onda's co-workers to extend the company's market leadership and continue to provide and expand the digital services portfolio to many more Panamanians, thus contributing to the country's socioeconomic development."

See Cable Onda press release.

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