The Mozambique Competition Regulatory Authority approved the acquisition by Visabeira Mozambique of a 30% stake in TV Cabo, previously held by state operator Tmcel. The ARC's decision allowed the Portuguese group to increase its position in the company to 80%.
With this operation, Visabeira significantly reinforces its control over TV Cabo Mozambique, becoming the majority shareholder of the cable television operator in the country. The Portuguese group already held a substantial position before this transaction.
Tmcel, the Mozambican state telecommunications operator, thus sold the 30% it held in TV Cabo, in a deal that was dependent on approval from Mozambique's competition regulator.
This acquisition is part of Visabeira group's international expansion strategy, which has been strengthening its presence in the Mozambican telecommunications and media market in recent years.
