Digicel Group acquires pan-Caribbean cable systems from Loret Group

24 Dec 2013

Digicel Group has announced that it has reached an agreement with the Guadeloupe-based Loret Group and its affiliate Caribbean Fibre Holdings to acquire a number of pan-Caribbean submarine cable systems. Irish-owned, Jamaica-based Digicel will acquire the Middle Caribbean Network (MCN), Southern Caribbean Fibre (SCF), Antilles Crossings and a number of related assets from Loret-owned Global Caribbean Fibre (GCF). The financial terms of the contract have not been disclosed, and the transaction is subject to regulatory approval.

The deal will provide Digicel with a wholly owned fibre-optic submarine network of approximately 2,100km providing capacity from Trinidad to Guadeloupe. Digicel will also have extensive onwards capacity on other submarine networks connecting locations such as Miami, Paris and New York. The company has also entered into a transaction with GCF and Global Caribbean Network (GCN) to provide submarine fibre capacity from Guadeloupe to Puerto Rico with onwards connectivity to the mainland United States.

TeleGeography notes that the Loret Group’s ongoing association with the Caribbean telecoms sector has arguably been in doubt since it sold its controlling shares in pan-Caribbean internet service provider (ISP) Mediaserv to French broadcaster Canal Plus Overseas, in 3Q13. Triple-play provider Mediaserv operates in the French overseas territories of Guadeloupe, French Guiana, Martinique and Iles du Nord (Saint-Martin and Saint-Barthelemy), as well as Reunion in the Indian Ocean.

Digicel Group