Digicel gearing up for expansion drive

21 Jan 2014

Irish billionaire Denis O’Brien has announced that his pan-Caribbean telecoms group Digicel will make a ‘massive push’ to expand this year, the Irish Times reports. The Jamaica-based group, which has operations in 31 markets across the Caribbean, Latin America and Pacific regions, will spend around USD500 million on its networks in 2014, with the tycoon noting that ‘we’re surging CAPEX this year. We think there’s great opportunities to go for more market share and new products.’ O’Brien ruled out an acquisition of UK-based Cable and Wireless Communications (CWC), Digicel’s closest rival in the Caribbean, but said that the group could ‘buy pieces’ if another company were to acquire CWC. Similarly there are no imminent plans to float Digicel, which saw revenues expand by 8% last year to USD2.8 billion, whilst EBITDA increased by 11% to USD1.2 billion.

Jamaica, Cable & Wireless Communications (CWC, incl. Columbus Int.), Digicel Group