Wednesday 29 March 2023

SUTEL Nixes Tigo – Telecable Merger

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29 March 2023 - At The Banks - BCCR

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QCOSTARICA – The Telecommunications Superintendency – Superintendencia de Telecomunicaciones (SUTEL) – fearing marking concentration nixed the plan for Tigo and Telecable to continue with its process of integration into a single company.

Last December, the two companies presented a formal application to merge.

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tHE Manager of Corporate Affairs of Tigo, Normal Chaves, explained that the company received notification from the SUTEL on April 23, rejecting their proposal.

Chaves added that Tigo has presented an appeal to the SUTEL, to reverse its decision and allow the merger process to continue.

Tigo Costa Rica and its parent company, Millicom, are surprised by the ruling. As part of the appeals process available to the company, Tigo Costa Rica is looking for the opportunity to present arguments in support of the request made,” the company said through a news release.

We firmly believe that this integration would benefit consumers, industry and contribute to bridging the digital divide in Costa Rica,” said Chaves,

Both companies said they will continue to offer its services as usual. Telecable will continue to operate independently, as usual, after the resolution issued by SUTEL,” he said through a press release.

Nearly half of households in Costa Rica have a cable TV service. In total, 641.000 homes in the country subscribe to cable service, of which Tigo holds 39% of the market and Telecable 12%, as of 2013, the latest data available.

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