DIGICEL has entered into an agreement to purchase Claro’s Jamaican operations while simultaneously ceding control of its Honduras and El Salvador operations to its competitor.
The Observer understands from high-placed sources that the deal between the Irish-owned Digicel Group and the Mexican-owned America Móvil (parent company of Claro) is near completion.
“The financial terms of the transaction are not being disclosed however there will be a net cash payment to Digicel. The transaction is subject to regulatory approvals and is expected to close in the second calendar quarter,” confirmed Digicel in a statement.
The deal will see Digicel extending its dominance of the local mobile telecommunications sector, where it already claims 2.1 million subscribers among the Jamaican population of 2.8 million.
America Móvil will however remain the larger player on the global market. Móvil reported adding 8.2 million mobile subscribers in the last quarter of 2010, bringing its total to 225 million worldwide. Globally Digicel has 11.5 million mobile subscribers.
Source: Jamaica Observer