Centennial to assess strategic value of Puerto Rican venture

22 Sep 2005

US-based wireless and broadband services provider Centennial is to conduct a strategic review of its Puerto Rican operation, but has stressed that the move does not mean it definitely plans to put the unit up for sale. According to Steve Kunszabo, Centennial’s director of investor relations, Lehman Brothers and Evercore Partners have been contracted to carry out the assessment of Centennial de Puerto Rico although he added that at the end of the day, ‘We could end this process and decide not to sell anything and remain as we are.’ Industry watchers are unconvinced however, noting that investment banks such as these are usually employed when there is a company interested in buying. Puerto Rico is home to around 1.8 million mobile users and is considered a great future prospect for growth in the region.

Puerto Rico, Centennial Communications, Centennial de Puerto Rico (AT&T)