Acquisition Marks Digicel's Entry Into Central American Market, Further Expansion of the Operation Projected
SAN SALVADOR, EL SALVADOR--(MARKET WIRE)--Oct 4, 2006 -- Digicel Group, the fastest-growing mobile telecommunications operator in the Caribbean, today announced that it has completed the acquisition of El Salvador mobile operator Digicel Holdings Limited (DHL).
Digicel's acquisition of DHL marks the company's first entry into the burgeoning Central American mobile telecommunications market. Expected to bring new, increased competition to the El Salvador mobile market, the acquisition enables Digicel to expand its mobile services to 21 markets and acquire a mobile telecommunications license in Guatemala. The company has also acquired 160 additional staff employees.
Digicel Group is renowned for offering its customers the best network, most innovative products and excellent customer service. By driving service improvements, increased investment in the network and offering strong brand support, Digicel aims to expand its operation in El Salvador and become the people's choice of mobile operator for El Salvadorians.
Visiting San Salvador, Digicel Group CEO Mr. Colm Delves welcomed Digicel El Salvador's employees into the Digicel family. "El Salvador is a very exciting marketplace for Digicel and we are looking forward to growing our operation to leverage its young population, stable currency and low current mobile penetration. We are committed to maximizing these market opportunities and look forward to even more expansion in the region," he said.
Digicel Group's operation in El Salvador will be led by Mr. Luis La Rocca, a mobile telecommunications expert with more than 30 years senior management experience. Mr. Rocca has worked with leading telecommunications providers such as BellSouth, Telecarrier and BTS. He has also served as a consultant with DHL in El Salvador. Mr. William Nazareth, who previously served as DHL CEO, will remain as a consultant to Digicel in El Salvador.
~~Adz:Right~~Digicel is known for its speed to market and innovative marketing initiatives, as well as introducing a dynamic portfolio of mobile services and product offerings in all markets in which it operates. With US$1.2 billion invested in the Caribbean over the past five years, Digicel has become one of the most admired and leading brands in the region as well as a significant employer of 2,160 staff members.
El Salvador has one of the most open telecommunications markets in Central America following the privatization and liberalization of the sector in 1998. Mobile penetration is currently estimated at approximately 30 percent and the sector continues to enjoy sustained growth with mobile phones overtaking fixed lines service in 2002.
