Thursday 23rd June, 2005

 

Digicel acquires Cingular Caribbean assets

 
 
 
 
Sports Arena
Womanwise
Business Guardian
 
Letters
Online Community
Death Notices
 
Advertising
Classified Ads
Jobs in T&T
Contact Us
 
Archives
Privacy Policy
 
 
 

 

Cingular 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 other’s markets, it said in a company release issued yesterday.

“Under 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 nation’s regulatory authority.

It is unlikely the company would bid on today’s radio spectrum auction for which they have been shortlisted.

©2004-2005 Trinidad Publishing Company Limited

Designed by: Randall Rajkumar-Maharaj · Updated daily by: Sheahan Farrell