Wireless announced yesterday that it has sold its Bermuda
and Caribbean assets to Bermuda-based Digicel Limited.
Cingular acquired AT&T wireless in February for $41
billion and formed the largest cell phone company in the
US with a customer base of 50.4 million.
The parties have also entered into a roaming agreement that
provides favourable roaming rates in each others markets,
it said in a company release issued yesterday.
the terms of agreements, Cingular will sell to Digicel former
AT&T Wireless properties, including licenses, network
assets and subscribers. In addition, Cingular will sell
its cellular licenses in Curacao, Jamaica and the French
West Indies, it said.
Financial terms were not disclosed and closing of the transaction
is contingent upon approval from each nations regulatory
It is unlikely the company would bid on todays radio
spectrum auction for which they have been shortlisted.