Digicel Sells Out Honduras Telecom

Denis O’Brien’s mobile phone company Digicel has sold its businesses in Honduras and El Salvador to the world’s richest man, Carlo Slim. Slim’s company America Movil is understood to have paid a “significant consideration” to the Irish telecom entrepreneur’s company.

The deal will also see Digicel take control the America Movil’s Jamaican mobile phone business, solidifying Digicel’s position there. The deal should be closed by the end of June, once it passes all regulatory hurdles.

America Movil’s company Claro, currently competes with Digicel in Honduras and El Salvador. Claro has a 33 per cent market share in Central America and a 43 per cent market share in the Caribbean. Digicel remained the biggest operator in Jamaica, despite attempts by America Movil to wrestle more market share from the dominant player.

Digicel Group Limited has 11.5 million customers across its 32 markets in the Caribbean, Central America and the Pacific…continue Digicel story here.


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