Millicom Buys in Paraguay (1)

Luxembourg-based telecom Millicom International Cellular has agreed to acquire Cablevision Paraguay for $150m, it says. The buy accelerates growth in Millicom’s fixed broadband services, says a person familiar with the deal, noting that CableVision Paraguay provides television and some fixed cable services to about 470,000 households in the country’s capital. Cablevision, meanwhile, is analyzing investment alternatives for the use of funds. Millicom declined to disclose its advisors. Cablevision worked with Saenz Valiente & Asociados, Errecondo, Salaverri, Dellatorre, Gonzalez y Burgio, as well as with Estudio Caniza in Paraguay. The deal is expected to close this year, subject to approvals.