Costa Rica attracts Millicom and Digicel

At the end of 2013 mobile phone services in Costa Rica will have reached at least $1,1 billion, according to calculations by market analyst, Signal Consulting.

Thursday, September 18, 2008

The forecast is based on the potential created by the opening of the sector after the creation of the Telecommunications Superintendence (SUTEL), which will paved the way for the entrance of new competitors in the local market.
The market analyst pointed out that there are changes on the horizon such as mergers and contracts that will allow potential investors to come in; two cases were highlighted: Millicom and Digicel.

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Digicel Plans to Operate in Costa Rica

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The cellular phone system operator is waiting for the bid for the licenses to enter the Costa Rican market in 2010.

The multinational already operates in El Salvador, Honduras, and Panama. It plans to make a strong investment in Costa Rica "to develop a first-class network," commented the CEO of Digicel Group, Denis O'Brien, in the context of the Forbes CEO conference in Gleneagles, Scotland, according to an article in

Digicel will have coverage in all of Central America

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The Digicel Group confirmed yesterday in Panama their decision to invest "multi-million dollar" sums of money in cellular communications in Central America.

In an attempt to shake up the main competition in the region, the investment will be carried out strongly geared towards components such as technology, equipment, and offers to consumers.

Digicel to pump US$334m in Panama operations

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The project consists of the construction and operation of a greenfield mobile cellular telephone network in Panama.

The total cost is estimated at US$334 million. The proposed IFC investment is up to US$50 million 'A' loan for IFC's own account.

The project is expected to create high-quality employment opportunities in Panama both at the company and distribution levels.

Millicom sees 78% increase in net profit in Q1

April 2008

Luxembourg-based mobile holding company Millicom Cellular International (Nasdaq: MICC), which operates in the Latin American region under the Tigo brand, continued to see strong growth in its traditional stronghold of Central America, with Honduras outstripping other countries in terms of subscriber growth, growing 88% and adding 515,000 subscribers.

Millicom posted a 78% increase in net profit to US$158mn in the first quarter of 2008 compared to US$89mn in 1Q07, the company said in a statement.