Panama telecoms: Millicom acquired an 80% stake in Cable Onda

Millicom makes Panama inroads with 80% stake in Cable Onda

Cable Onda is expected to continue its high-speed hybrid fibre-cable network expansion investments.

In December 2018, Europe-based telecommunications company Millicom acquired an 80% stake in cable operator Cable Onda for $1 billion. The cable operator currently offers broadband, pay-TV, and fixed telephony services in Panama.

Cable Onda represented a majority 61.8% of total fixed broadband lines as of 2018, followed by Cable & Wireless Panama.

Future of Panama telecoms

To maintain its leading position, Cable Onda, now backed by Millicom, will continue with its high-speed Hybrid Fibre-Cable (HFC) network expansion investments, aiming to offer enhanced broadband experience to its customers, the company said,

The pay-TV market is also led by Cable Onda, with 57.4% share as of 2018 by subscriber count, and focuses on offering converged multiplay services to add new pay-TV subscriptions.

Millicom’s recent acquisition of Cable Onda will support this strategy as it strengthens the operator’s financial position.

Panama mobile data, fixed broadband, and pay-TV services revenue totalled $1.4 billion in 2018 and will grow to $1.6 billion by the end of 2023, a five-year compound annual growth rate of 2.8%.