Dec 24 2013
Digicel today announced that it has reached an agreement with the Guadeloupe-based Loret Group and with Caribbean Fibre Holdings to acquire a submarine fibre network across the Caribbean region.
Digicel will acquire Middle Caribbean Network, Southern Caribbean Fibre, Antilles Crossings and a number of related assets from Global Caribbean Fibre.
This deal will provide Digicel with a wholly owned submarine fibre optic cable network of approximately 2,100km providing capacity from Trinidad to Guadeloupe.
Digicel has also entered into a transaction with Global Caribbean Fibre and Global Caribbean Network to provide submarine fibre capacity from Guadeloupe to Puerto Rico with onwards connectivity to the mainland United States.
With these new capabilities, Digicel is underpinning its commitments to delivering best network, best service and best value and will once again be at the forefront of driving competition and consumer choice in the region.
In total, Digicel has secured access to a robust network comprised of 15 submarine segments with a reach of some 3,100km across the Caribbean region. Digicel will also have extensive onwards capacity on other submarine networks connecting locations such as Miami, Paris and New York.
The financial terms of the contract are not being disclosed and the transaction is subject to regulatory approval.
Digicel Group CEO, Colm Delves, said; "We are always looking for new ways to ensure that we deliver choice and innovation to our valued customers. The acquisition of this submarine network secures significant additional broadband capacity for Digicel. This additional capacity is central to our continued drive to offer innovative services and products to our customers in a data hungry world."
ABOUT DIGICEL GROUP
Digicel Group Limited is a leading global communications provider with operations in 31 markets in the Caribbean, Central America and Asia Pacific. After 12 years of operation, total investment to date stands at over US$4.9 billion worldwide. The company is renowned for delivering best value, best service and best network.
Digicel is incorporated in Bermuda and its markets comprise: Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, the British Virgin Islands, the Cayman Islands, Curacao, Dominica, El Salvador, Fiji, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, Nauru, Panama, Papua New Guinea, Samoa, St. Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Tonga, Trinidad & Tobago, Turks & Caicos and Vanuatu. Digicel also has coverage in St. Martin and St. Barts in the Caribbean.
Source: http://www.digicelgroup.com