Acquisition Marks Digicel's Continued Growth; Further Expansion into South and Central American Telecommunications Markets
GEORGETOWN, GUYANA - 11/02/2006 -- Digicel Group, the fastest-growing mobile telecommunications operator in the Caribbean and new entrant to Central American market, today announced that it has acquired the Guyanese mobile operator U Mobile through the direct acquisition of its ultimate parent holding company. Following on the heels of the acquisition of El Salvador mobile operator, Digicel Holdings Limited (DHL), Digicel Group now has operations in 22 markets.
Expected to introduce increased competition to the Guyana mobile market, the acquisition of, U Mobile along with its employee base of 119 people, enables Digicel to expand its footprint into South America following the launch in French Guiana earlier this year. Guyana has a population of close to 800,000 people.
By making considerable investments to upgrade and expand U Mobile's existing GSM network, Digicel looks forward to making a significant impact on the quality, standard and availability of mobile telecommunications in Guyana.
President of Guyana, his Excellency Mr. Bharrat Jagdeo, welcomed Digicel to Guyana noting, "Based on their hugely successful track record across the Caribbean region in making mobile communications more accessible to countries with low mobile penetration rates, we are confident that the presence of Digicel in Guyana will bring increased competition to the market. This will result in new and improved quality services allowing more Guyanese to avail of mobile technology."
Digicel's welcome into the country was echoed by Guyana Prime Minister, the Honorable Mr. Samuel Hinds: "We look forward to Digicel providing better coverage and better value to the Guyana mobile customer as well as being an active participant in our community."
Visiting Georgetown today, Digicel Group CEO, Colm Delves welcomed U Mobile employees into the Digicel family stating, "We look forward to heralding a new era in mobile telecommunications in Guyana, where mobile users can embrace new innovative technology and accessible telecom services. At Digicel, our customers are our number one priority and we will bring this outlook to Guyana where we have already built strong ties with the people through our partnership with West Indies cricket."
Barry Hon, head of TWT, the former owner of U Mobile, congratulated Digicel on the acquisition, stating, "We are very proud of our record of being the first cellular company to introduce competition to the Guyanese telecommunications marketplace. We are happy that our investment and hard work have now attracted a well-respected international company of Digicel's caliber who will take competition to a new level in Guyana. We know that we are leaving our investment in good hands."
Digicel Guyana's operation will be headed by Tim Bahrani, a senior executive who has more than 11 years experience in mobile telecommunications management. Prior to joining Digicel, he held senior management positions at Celtel, Africa's leading mobile operator, and Millicom International in Asia.
With more than 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 close to 2,500 staff members.
ABOUT GUYANA
Population: Close to 800,000
Location: Northern Coast of South America, bordering the Atlantic Ocean and between Suriname, Venezuela and Brazil
Language: English
Mobile Penetration: approximately 22 percent(1)
Telecommunications: One fixed line and two mobile operators (including Digicel, formerly Cel*Star U Mobile)
ABOUT DIGICEL
Since its launch in 2001, Digicel has become the fastest-growing wireless telecommunications operator in the Caribbean. After five years, Digicel is renowned for competitive rates, unbeatable coverage, superior customer care, a wide variety of products and services, and state-of-the-art handsets. It is the largest GSM operator in the region.
Digicel is incorporated in Bermuda and has operations in 22 markets, including Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, Curaçao, The Cayman Islands, Dominica, El Salvador, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, St. Kitts & Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad & Tobago and Turks & Caicos. Digicel also has coverage in St. Martin and St. Barths and expects further significant growth.
The company is the lead sponsor of Caribbean sports teams including the West Indies Cricket Team, Special Olympics teams across the Caribbean and is the title sponsor of the Digicel Caribbean Football Union Cup, which involves over 30 Caribbean countries and is an important qualifier towards the CONCACAF Gold Cup. For more information, visit http://www.digicelgroup.com/.
