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Digicel Buys Caribbean Ops

Digicel expands network with acquisition of Cingular's Caribbean operations

June 22, 2005

1 Min Read

KINGSTON, Jamaica -- Digicel Group, the fastest growing mobile telecommunications provider in the Caribbean, announced today that it has entered into an agreement to acquire Cingular's Caribbean operations in a multi-million dollar deal that significantly increases the size of Digicel's Pan-Caribbean network. Cingular Wireless is a joint venture between SBC Communications Inc. (NYSE: SBC) and BellSouth Corp. (NYSE: BLS). The parties have also entered into a roaming agreement that provides favorable roaming rates in each other's markets.

This purchase will expand Digicel's network to Bermuda, Anguilla, St. Kitts and Nevis, Antigua and Barbuda, and Dominica in addition to its existing nine markets of operation which include the most recent addition of Haiti. The acquisition will also strengthen Digicel's market share in The Cayman Islands, Grenada, St. Lucia, Barbados and St. Vincent & the Grenadines, where Cingular's customer base will transition to Digicel.

This transaction, which is subject to regulatory approval, is expected to close in four to six months.

"We are looking forward to welcoming the Cingular Caribbean operations staff and customers to the Digicel family," said Denis O'Brien, founder and chairman, Digicel Group. "Our industry leading service and unmatched customer care continue to put us in a position of strength as we roll-out a seamless pan-Caribbean telecommunications network."

Digicel

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