Mexican telecoms giant America Movil announced on Friday that it has acquired the operations of regional operator Digicel in El Salvador and Honduras.
America Movil will also be selling its operations in Jamaica to Digicel as part of the deal.
In…
Mexican telecoms giant America Movil announced on Friday that it has acquired the operations of regional operator Digicel in El Salvador and Honduras.
America Movil will also be selling its operations in Jamaica to Digicel as part of the deal.
In separate statements, America Movil and Digicel said that they expected the deal to be completed in Q2 2011.
Digicel said that the financial terms of the deal were not being disclosed as the transaction was still subject to regulatory and governmental approvals.
But it added that there would be a net cash payment to Digicel.
Digicel said that it had not used any external advisers for the deal. America Movil did not reply to questions before the press deadline.
The deal means that Digicel’s operations will be overwhelmingly focussed in the Caribbean, although it will still retain a small Latin American presence in French Guiana and Panama.
A Digicel spokeswoman described the deal to TelecomFinance as “a strategic exchange of assets that will allow both operators to offer enhanced products, services and coverage to our existing and newly acquired customer bases”.
