Digicel to bid EUR1bn for Orange Dominicana

15 Nov 2013

Pan-Caribbean telecoms giant Digicel is reportedly planning to submit a EUR1 billion (USD1.35 billion) bid for Orange Group’s wholly-owned unit Orange Dominicana unit, ahead of today’s deadline for the submission of bids, local news agency Dominican Today reports. According to the article, Cable & Wireless Communications (CWC), which owns Digicel’s chief rival LIME, is also among the bidders, as well as Grupo Leon Jimenes, a local conglomerate with interests in tobacco, beer and banking.

As previously reported by TeleGeography’s CommsUpdate, Paris-based telecoms giant Orange Group set a deadline of mid-November 2013 for interested parties to submit bids for Orange Dominicana. Orange Group is keen to sell its Dominican unit in an attempt to moderate its debt. Sources familiar with the matter stated that Orange started speaking to potential advisers in June 2013, with Morgan Stanley and Bank of America Merill Lynch reportedly appointed as consultants a month later.