Digicel to pump US$334m in Panama operations

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

Monday, September 8, 2008

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. Digicel plans to hire 350 people directly in its operations and estimates the indirect employment of additional 1,000 people.

More on this topic

Digicel to Fund Central American Operation with $215 million

March 2009

Digicel Group will acquire 35.8% of Digicel Holdings Central America Limited (DHCAL) for $215 million.

DHCAL is the owner of Digicel mobile phone operations in Honduras and Panama, where it began operating in November and December 2008 respectively.

The money will come from a placement of $335 million in Digicel Group corporate bonds.

Costa Rica attracts Millicom and Digicel

September 2008

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.

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.

Digicel will have coverage in all of Central America

September 2008

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.

Panama sells Carlos Slim, Digicel mobile licenses

May 2008

Panama awarded Irish-backed Digicel Panama and Claro Panama, a unit of billionaire Carlos Slim's America Movil, concessions to run new mobile phone networks on Wednesday.

Digicel, owned by Irish billionaire Denis O'Brien, bid $86 million for one license, beating a $73 million offer from Claro Panama.

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