SOURCE: Digicel

Digicel

March 11, 2011 17:00 ET

Digicel Signs Agreement to Acquire Claro Jamaica and to Sell Digicel Honduras and El Salvador

KINGSTON, JAMAICA--(Marketwire - March 11, 2011) - Digicel today announced that it has signed an agreement with América Móvil to acquire its Claro business in Jamaica, and to sell to América Móvil its businesses in El Salvador and Honduras.

The financial terms of the transaction are not being disclosed; however, there will be a net cash payment to Digicel.

The transaction is subject to regulatory approvals and is expected to close in the second calendar quarter. 

ABOUT DIGICEL GROUP

After almost ten years of operation, Digicel Group Limited has 11.5 million customers across its 32 markets in the Caribbean, Central America and the Pacific. The company is renowned for delivering best value, best service and best network.

Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams, including the Special Olympics teams throughout these regions. Digicel sponsors the West Indies cricket team and is also the title sponsor of the Digicel Caribbean Cup. In the Pacific, Digicel is the proud sponsor of several national rugby teams and also sponsors the Vanuatu cricket team.

Digicel also runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Jamaica, Haiti and Papua New Guinea which focus on educational, cultural and social development programmes.

In 2004, Digicel developed Digicel Rising Stars -- an annual talent show to support aspiring young music artists in the Caribbean. The show has spanned the Eastern Caribbean, Haiti, Jamaica and Trinidad & Tobago ranking as one of the top-rated shows.

Digicel is incorporated in Bermuda and its markets comprise: Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, the British Virgin Islands, the Cayman Islands, Curacao, Dominica, El Salvador, Fiji, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Honduras, Jamaica, Martinique, Nauru, Panama, Papua New Guinea, Samoa, St Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Tonga, Trinidad & Tobago, Turks & Caicos and Vanuatu. Digicel also has coverage in St. Martin and St. Barts in the Caribbean.

Visit www.digicelgroup.com for more information.

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