Digicel Joins Three Others in Bidding for Bahamas Telecom
October 21st, 2009SOURCE: GLOBAL TELECOMS BUSINESS
Digicel, a large Caribbean and central American operator, is one of the four, according to the Nassau Guardian, a local newspaper. Others are partnering with private equity operations to bid for the company.
The Nassau Guardian says that Cable & Wireless, which has significant operations across the Caribbean — now rebranded as Lime — has decided not to bid. The publications also says that AT&T, Verizon, América Móvil and Canadian operator Rogers are staying out of the bidding.
The publication says that other shortlisted bidders include a private equity firm working “partnering with one of the largest telecommunications operators in the world with more than 300 million clients and approximately $70 billion in revenues”, a Nasdaq-listed company with operations in the US and the Caribbean and “a foreign wireless operator that does business in the Caribbean, South America and New Zealand”.
A committee appointed by the prime minister, Hubert Ingraham, has presented the list of bidders so that due diligence can start. Bidding is likely to take place by the end of November 2009, says the report.
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