Digicel to acquire Cingular's Caribbean operations
Denis O'Brien's Digicel Group announced today it has entered into an agreement to acquire Cingular’s Caribbean operations in a multi-million dollar deal which significantly increases the size of Digicel’s Pan-Caribbean network.
Cingular Wireless is a joint venture between SBC Communications Inc and BellSouth Corporation.
The parties have also entered into a roaming agreement that provides favorable roaming rates in each other’s markets.
This transaction, which is subject to regulatory approval, is expected to close in four to six months.
"Digicel is delighted to have reached this agreement with Cingular because it presents a unique opportunity to acquire a geographic portfolio of interests in line with Digicel's growth strategy," said Denis O’Brien, founder and chairman of Digicel Group.
Since its launch in 2001, Digicel has become the fastest growing mobile telecommunications operator in the Caribbean.
Digicel is incorporated in Bermuda and operates in nine countries including Aruba, Barbados, Curaçao, The Cayman Islands, Grenada, Haiti, Jamaica, St. Lucia, St. Vincent and the Grenadines.
It is the largest GSM mobile operator in the region and plans to extend its footprint into other Caribbean countries.
