Panamanian operator +Movil, controlled by Cable & Wireless Communications (CWC) in partnership with the government, has renewed its spectrum licences and acquired new frequencies in the 700 MHz and 1900 MHz bands.
The US$100m 20-year agreement approved…
Panamanian operator +Movil, controlled by Cable & Wireless Communications (CWC) in partnership with the government, has renewed its spectrum licences and acquired new frequencies in the 700 MHz and 1900 MHz bands.
The US$100m 20-year agreement approved by Panama’s cabinet means that +Movil retains its 35 MHz of spectrum across the 850 MHz and 1900 MHz bands until 2037.
The operator has also bought 10 MHz of the 1900 MHz band and will get access to 20 MHz in the 700 MHz band next year, which is due to be opened up for mobile services next year and is ideal for mobile data services. It also has rights to these frequencies until 2037.
CWC said the price it spent for the additional frequencies, which almost doubles its spectrum holdings in Panama, was based upon what was paid by operators when the country last sold airwaves in 2008. It is paying for the deal using cash on hand.
CWC CEO Tony Rice commented: “In securing our long term future this agreement cements our position and ensures we can remain and grow as the best data provider in Panama.”
+Movil is 49%-owned by CWC, 49%-owned by the government and 2%-owned by the employees.
