Tigo acquires Panama's Cable Onda for $1.46 billion

Millicom International, best known in Central America for its Tigo brand, announced the acquisition of 80 percent of the shares of Panama's Cable Onda for $1.46 billion.

Both companies offer mobile telephone and cable TV services.
The purchase is subject to an agreement on terms and on a consensus of bond holders of Cable Onda. The deal is expected to be concluded by the end of this year.

Millicom has its headquarters in Europe but operates in Latin America and Africa.