Jim Bondoux Posted October 8, 2018 Share Posted October 8, 2018 Here's Millicom's press release: http://mb.cision.com/Main/950/2636808/922133.pdf Millicom has evolved from an early cell phone service provider to a multinational mobile telecommunications giant with a large internet footprint in both African and Latin American countries. The company has grown by consolidating various acquisitions and taking on lots of debt. Goldman Sachs advised in its purchase of 80% of CableOnda. I've generally been quite pleased with CableOnda's service, and I am not at all sure that this transaction will have positive consequences for the average household customer. I have no choice but to wait and see. 1 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 9, 2018 Moderators Share Posted October 9, 2018 Quote Millicom to acquire Panama's Cable Onda for US$1 billion Monday, October 08, 2018 Luxembourg-based Millicom agreed to acquire a controlling 80% stake in Cable Onda, the largest cable and fixed telecommunications services provider in Panama, for approximately US$1.002 billion in cash. The deal values 100% of Cable Onda at an enterprise value of $1,460 million. Cable Onda is the leader in Panama’s broadband internet, pay-TV, fixed telephony and B2B telecommunications markets, serving more than 500,000 customers using mostly its state-ofthe-art Hybrid Fibre-Cable (HFC) network. For the half-year ended June 30, 2018, Cable Onda generated revenue of $195 million and EBITDA of $83 million, for a margin of 42.4%. Capex for the period was $46 million. As of December 31, 2017, Millicom provided mobile services to approximately 51 million customers, with a cable footprint of more than 9 million homes passed. In 2017, Millicom reported revenues of $6.0 billion and EBITDA of $2.2 billion. In Latin America, Millicom is present in Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Paraguay. Mauricio Ramos, CEO of Millicom said: “Our acquisition of Cable Onda is consistent with our strategy of accelerating the deployment of high-speed data networks in Central and South America. With the addition of Panama, we now have contiguous country operations from Guatemala to Colombia, which will significantly enhance our B2B capabilities, given the country’s increasingly important role as a business hub for the region. We are excited about expanding to Panama, an investment grade country with a diversified, dollarized, and robust economy. Disposable income levels in Panama are now among the highest in Latin America, yet penetration rates for digital services remain comparatively low. We look forward to working with our strong local partners to extend the company’s market leadership and bring Digital Lifestyle services to even more Panamanians and contribute to the ongoing socio-economic development of the country.” https://www.convergedigest.com/2018/10/millicom-to-acquire-panamas-cable-onda.html Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 9, 2018 Moderators Share Posted October 9, 2018 Quote Millicom buys majority stake of Panamanian Cable Onda for $ 1.46 billion Mon, 10/08/2018 - 14:51 Millicom International Cellular SA, whose main brand is Tigo, bought for $ 1.60 billion the 80 percent shareholding of the company Cable Onda, the largest provider of pay television and fixed telecommunications services in Panama. Cable Onda reported today that the commercial agreement includes its Telecarrier and Fronteras Security companies, that the negotiation is subject "to the conditions of closure and the consensus of Cable Onda's bondholders," and that it is expected to be concluded "by the end of 2018". Millicom is a provider of cable and mobile services dedicated to emerging markets in Latin America and Africa, and in 2017 it reported revenues of $ 6 billion, according to data released by Cable Onda. The Panamanian company said Sunday in a public statement that the trade agreement "will offer new opportunities for growth and development" for workers of "both companies, and innovation in products and services for the benefit of customers". It also "constitutes a new foreign investment for Panama, which will bring socioeconomic development for the country and the sector," said Cable Onda, which retains the 20 percent shareholding in the company. According to data released on Sunday officially, Cable Onda is the largest provider of pay television and fixed telecommunications services in Panama, and as of December 31, 2017 served 433,000 residential customers and 34,000 commercial and government customers. For the year ended December 31, 2017, Cable Onda reported revenues of $ 374 million, earnings before interest, taxes, depreciation and amortization (EBITDA) of $ 160 million, tax expenditures of $ 20 million, and invested $ 85 million in capital expenditures. The general manager of Cable Onda, Nicolás González, affirmed that the company is "pleased to be a member of Millicom" which is "clear leader in most of the markets it serves". "We achieved a wide complementarity that adds the background and knowledge of the local market of Cable Onda, with the international experience offered by a group such as Millicom," added the general manager. The CEO of Millicom, Mauricio Ramos, said that the vision of the company "is to work with our strong local partners and with all the employees of Cable Onda, to extend the leadership of the company in the market and continue to provide and expand the portfolio of digital services to many Panamanians". "The result of this agreement will make a more solid and competitive organization and deepen investment in technology, to reaffirm the leadership in the market segments to which Cable Onda directs its products and services," the Panamanian company added in its public statement. Millicom is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa, and its main brand is Tigo, according to official information. As of December 31, 2017, Millicom employed more than 19,000 people and provided mobile services to approximately 51 million customers, with a coaxial fiber optic network covering more than nine million households. Founded in 1992, Millicom International Cellular S.A is headquartered in Luxembourg and is listed on Nasdaq Stockholm under the symbol MIC_SDB. Millicom has announced plans to also list its shares in the United States in 2019, added the official information. https://www.panamatoday.com/economy/millicom-buys-majority-stake-panamanian-cable-onda-146-billion-8036 Quote Link to comment Share on other sites More sharing options...
JohnF13 Posted October 9, 2018 Share Posted October 9, 2018 Well, they have one less customer now. Two weeks of no internet, several days waiting in for a tech that never showed after many, many promises.......enough. Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 9, 2018 Moderators Share Posted October 9, 2018 Quote Cable Onda sells 80% of stock to Millicom Posted on October 8, 2018 in Panama, Panama Post Views: 216 Cable Onda the largest provider of pay television and fixed telecommunications services in Panama, has sold 80 percent of its shares to Millicom International Cellular S.A., whose main brand is Tigo, for $1.46 billion. The Panamanian company reported on Monday, October 8 that the commercial agreement includes its Telecarrier and Fronteras Security companies, and that the deal is subject “to the conditions of closure and consensus of the Cable Onda bondholders “, and that it is expected to conclude “by the end of 2018”. Millicom is a provider of cable and mobile services dedicated to emerging markets in Latin America and Africa, and in 2017 it reported revenues of $6 billion according to data distributed by Cable Onda. The Panama company said in a public statement that the trade agreement “will offer new opportunities for growth and development “for workers of “both companies, and innovation in products and services for the benefit of customers “. It also “constitutes a new foreign investment for Panama, which will bring socio-economic development to the country and the sector, “said Cable Onda. As of December 31, 2017, Cable Onda was serving 433,000 residential customers and 34,000 thousand commercial and governmental clients. For the year ended December 31, 2017, the company reported income of $374 million Benefits before interest, taxes, depreciation, and amortization Nicolás González, general manager of Cable Onda, said the company is “excited to be a member of Millicom “which is” a clear leader in most of the markets it serves. ” The linking “combines trajectory and knowledge of the local Cable Onda market, with the international experience offered by a group like Millicom, “ https://www.newsroompanama.com/business/panama-4/cable-onda-sells-80-of-stock-to-millicom Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 9, 2018 Moderators Share Posted October 9, 2018 29 minutes ago, JohnF13 said: Well, they have one less customer now. Two weeks of no internet, several days waiting in for a tech that never showed after many, many promises.......enough. Curious who you selected for your new ISP. There aren't that many options here in this area. Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted October 9, 2018 Share Posted October 9, 2018 (edited) This is a bit of background on Millicom and their strategic planning. Sounds like the Cableonda name may be changed to 'TIGO', an abbreviation of 'contigo' or 'with you'. https://blog.telegeography.com/how-millicom-overhauled-its-operational-footprint-and-took-the-fight-to-latin-america Edited October 9, 2018 by Keith Woolford Quote Link to comment Share on other sites More sharing options...
JohnF13 Posted October 9, 2018 Share Posted October 9, 2018 And thats the problem. They seem to think that piss poor customer service is acceptable because of the lack of options. I went with Planet. More expensive but I expect better service. Called them on a Monday afternoon, the new stuff was installed the next day. 1 2 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 10, 2018 Moderators Share Posted October 10, 2018 Quote No Cable Onda rate increase as new owner takes reins Posted on October 9, 2018 in Panama Panama customers of Cable Onda will not face a rate increase for their TV service following the acquisition of 80% of the company’s shares by Millicom, which operates the Tigo brand in the region. "The tariff will continue to decrease, but consumption will continue to grow," said Millicom CEO Mauricio Ramos, on Tuesday, October 9. The Cable Onda, brand will stay in place for now according to Ramos, but customers would be consulted if they prefer it to remain or if it is changed to Tigo, the Millicom brand. https://www.newsroompanama.com/news/panama/no-cable-onda-rate-increase-as-new-owner-takes-reins Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 11, 2018 Moderators Share Posted October 11, 2018 Moderator comment: Proofreading issue again. I believe the correct investment amount was $1.46 billion, not million. Quote 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. https://www.centralamericadata.com/en/article/main/Panama_Cable_Onda_Changes_Ownership Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted October 16, 2018 Share Posted October 16, 2018 (edited) This acquisition is highlighted today in MF, the Tuesday Financial section of LaPrensa. These graphs contrast the size of the entities. Edited October 16, 2018 by Keith Woolford Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted February 23, 2019 Moderators Share Posted February 23, 2019 Quote Movistar bows out to Millicom Posted 22/02/2019 Movistar, has sold its operations in Panama, Costa Rica and Nicaragua to Millicom Internatioial Cellular for $1. 65 billion. Millicom, a cable and mobile operator in Latin America and Africa with its Tigo brand recently acquired 80% pf Cable Onda’s shares for $1.46 billion. The purchase of the mobile telephony assets of Spain's Telefónica(Movistar) in the three countries was announced on Wednesday, February 20. The transaction significantly expands Millicom's operations in each of the three Central American countries and will diversify and balance its geographic footprint and sources of cash flow said a company release. Telefonica said in January that it was negotiating the sale of assets in Panama, as well as other Central American countries such as Costa Rica, El Salvador, Guatemala, and Nicaragua. A sale could allow the Spanish group to concentrate on its larger operations and reduce its debt. The Spanish company arrived in Panama in 2005 when it bought the American Bellsouth. Mauricio Ramos, CEO of Millicom, said the investment will strengthen the company's position in Central America after it acquired Cable Onda in Panama last year. https://www.newsroompanama.com/business/movistar-bows-out-to-millicom Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 7, 2020 Moderators Share Posted May 7, 2020 Quote Millicom construye red móvil cónsona con 5G La compañía, que llegó a Panamá en 2018, revela una inversión millonaria a lo largo y ancho del país, y valora el alcance de la ley de moratoria. Óscar Castaño Llorente 07 may 2020 - 12:00 AM Millicom–Tigo, bajo la marca Movistar, presentó en diciembre el proyecto de conectividad digital en Guna Yala. En la foto: Rodrigo Diehl, gerente de Millicom Tigo Panamá. Roberto Cisneros Hace dos semanas Millicom Panamá inició la construcción de una red móvil, “desde cero”, y una vez concluida su cobertura abarcará todo el país. Se estrenará en unos meses y cumplirá con los estándares de funcionamiento exigidos por la tecnología 5G. Se trata de una inversión multimillonaria ejecutada cada domingo por un equipo de 250 trabajadores de la compañía, dedicado a articular esta red de última generación. “Estará en el top of line a nivel mundial y su terminación nos tomará algunos meses. Con ella [tendremos presencia] en todo el territorio panameño, hasta la comarca Guna Yala”, anticipó ayer Rodrigo Diehl, gerente de Millicom Tigo Panamá, en un conversatorio con periodistas, con ocasión de la ley de moratoria, que involucra al sector de telecomunicaciones. El anuncio integra el plan de inversiones adelantado en Panamá por parte de esta multinacional de las comunicaciones y la tecnología de la información, cuando adquirió el 80% del paquete accionario de Cable Onda en el segundo semestre de 2018; y tras la compra de las operaciones de Movistar en los mercados de Centroamérica, entre ellos Panamá, en febrero del año pasado. La construcción de una red móvil como la descrita por Diehl corrobora la consolidación de las inversiones de la compañía desde su llegada a Panamá, las cuales ascienden a $2,000 millones. “Estas no han cambiado un ápice” a raíz de la pandemia como resultado de la Covid–19. Solidaridad ante el virus Si pudiera sacarse un aspecto positivo del virus, por lo menos en el ámbito de las comunicaciones, es el de haberse constituido en un facilitador de la transformación digital. “En broma pregunto entre nuestros colaboradores quién es mi mejor líder de esta evolución digital, y la respuesta es la Covid–19”. La transformación digital se cumple en Panamá a marchas forzadas con decisiones de contingencia como la compra de Millicom de una mayor capacidad de internet en mercados internacionales, pues la cuarentena aumentó el tráfico de datos en un 50%. O con acciones como el acoplamiento de la compañía para satisfacer la ley sancionada hace dos días por el presidente de la República, Lauretino Cortizo, la cual suspende por cuatro meses hasta junio los pagos de los servicios de energía, internet y de telefonía fija y móvil, “Dicha ley tiene un impacto significativo para la compañía. Nuestros costos han aumentado significativamente, pero tenemos prioridades: los colaboradores, en los que se hayan los proveedores, y los clientes. (…) Es difícil llevar una empresa en la que hay que pagar cuentas cuando no hay ingresos”. Diehl hizo hincapié en el “compromiso de Millicom de implementar la norma al pie de la letra”, y por lo tanto considera importante observar en detalle su contenido. “No es que todo el mundo puede no pagar”, pues la medida beneficia a las personas “afectadas por la pandemia”, como aquellas que “hayan perdido su trabajo”; o los “trabajadores suspendidos” de sus labores; o “los hogares por debajo de un determinado nivel de ingresos”. Para ilustrar una situación excluida de la medida, Diehl expuso el caso hipotético de una persona con una remuneración de más de $2,000 y que tiene trabajo. “Lo que la moratoria representa es que [a] la persona [que] deja de pagar los servicios durante cuatro meses, después se le genera una deuda por pagar en tres años, sin intereses”. Cuando esto suceda, Millicom refinanciará esa obligación en el periodo señalado. Por este motivo Diehl acude a “la solidaridad de la gente”, para que todos aquellos que “sí tengan los medios para pagar” los servicios, lo sigan haciendo. “De esta manera contribuyen a que podamos asegurar la sostenibilidad del servicio y de los puestos de trabajo”. Al menos 5,000 personas trabajan en Millicom, una corporación que no recibe “ningún subsidio” del Gobierno, por lo que está “absorbiendo ciento por ciento el impacto de la moratoria”. Antes de esta medida, le había ofrecido “proactivamente” a la población un plan básico y gratuito. “Solo llevamos un mes de haberlo lanzado. (…) Hay personas que prefieren hacer uso de este plan para evitar endeudarse durante la pandemia”. Consultado sobre el cambio de la marca Movistar en Panamá por la de Tigo, como se denomina comercialmente Millicom en los diferentes mercados donde tiene presencia, Diehl detalló que Telefónica “les ha prestado por un año” aquel nombre para “darnos el tiempo suficiente de lanzar nuestra propia marca”. En algún momento de este año sucederá este cambio, anticipó. Y respecto de Cable Onda, dijo que por ahora mantendrán ese nombre. Moderator comment: Below is an unedite automated translation of the above news article. Quote Millicom Builds 5G Consonal Mobile Network The company, which arrived in Panama in 2018, reveals a million dollar investment across the country, and values the scope of the moratorium law. Óscar Castaño Llorente May 07, 2020 - 12:00 AM <<M5CWJVLWY5CWJIGANRGH7GGFKA.jpg>> Millicom – Tigo, under the Movistar brand, presented the digital connectivity project in Guna Yala in December. In the photo: Rodrigo Diehl, manager of Millicom Tigo Panamá. Roberto Cisneros Two weeks ago Millicom Panama began the construction of a mobile network, "from scratch", and once its coverage is complete, it will cover the entire country. It will be released in a few months and will meet the performance standards required by 5G technology. It is a multi-million dollar investment executed every Sunday by a team of 250 company employees, dedicated to articulating this state-of-the-art network. "It will be at the top of line worldwide and its completion will take us a few months. With it [we will have a presence] throughout the Panamanian territory, up to the Guna Yala region, ”Rodrigo Diehl, manager of Millicom Tigo Panama, anticipated yesterday, in a conversation with journalists, on the occasion of the moratorium law, which involves the telecommunications sector. . The announcement integrates the investment plan advanced in Panama by this multinational communications and information technology company, when it acquired 80% of Cable Onda's share package in the second half of 2018; and after the purchase of Movistar's operations in the Central American markets, including Panama, in February of last year. The construction of a mobile network such as the one described by Diehl corroborates the consolidation of the company's investments since its arrival in Panama, which amount to $ 2,000 million. "These have not changed one iota" following the pandemic as a result of Covid-19. Solidarity with the virus If a positive aspect of the virus could be obtained, at least in the field of communications, is that of having become a facilitator of digital transformation. “I jokingly ask among our collaborators who is my best leader in this digital evolution, and the answer is Covid-19”. The digital transformation is accomplished in Panama with forced marches with contingency decisions such as Millicom's purchase of greater internet capacity in international markets, as the quarantine increased data traffic by 50%. Or with actions such as the coupling of the company to satisfy the law passed two days ago by the President of the Republic, Lauretino Cortizo, which suspends payments for four months until June for energy, internet and fixed and mobile telephone services , "This law has a significant impact for the company. Our costs have increased significantly, but we have priorities: collaborators, including suppliers, and customers. (…) It is difficult to run a company where you have to pay bills when there is no income. ” Diehl emphasized "Millicom's commitment to implement the standard to the letter" and therefore considers it important to look in detail at its content. "It is not that everyone can not pay", as the measure benefits people "affected by the pandemic", such as those who "have lost their jobs"; or the "suspended workers" from their work; or "households below a certain income level". To illustrate a situation excluded from the measure, Diehl presented the hypothetical case of a person with a salary of more than $ 2,000 and who has a job. "What the moratorium represents is that [the] person [who] stops paying the services for four months, then generates a debt to pay in three years, without interest." When this happens, Millicom will refinance that obligation in the indicated period. For this reason Diehl goes to "the solidarity of the people", so that all those who "do have the means to pay" for services continue to do so. "In this way they help us to ensure the sustainability of the service and the jobs." At least 5,000 people work at Millicom, a corporation that receives "no subsidy" from the government, so it is "absorbing the impact of the moratorium one hundred percent." Before this measure, he had “proactively” offered the population a free basic plan. “We have only been launching for a month. (…) There are people who prefer to use this plan to avoid getting into debt during the pandemic. ” Asked about the change of the Movistar brand in Panama for that of Tigo, as it is commercially called Millicom in the different markets where it has a presence, Diehl explained that Telefónica "has lent them that name for a year" to "give us enough time to launch our own brand. " Sometime this year this change will happen, he anticipated. And regarding Cable Onda, he said that https://www.prensa.com/impresa/economia/millicom-construye-red-movil-consona-con-5g/ Quote Link to comment Share on other sites More sharing options...
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