Over the next two years, Cable & Wireless plans to invest $220 million in strengthening infrastructure for mobile telephony and switching over from copper to fiber optics.
The announcement was made by the president of Liberty Global, owner of Cable & Wireless since 2016.
"...Mike Fries said in a press conference that the new investment will be made to reinforce the infrastructure of mobile telephony, switch from fixed copper to fiber optic networks, boost services for companies and for the government."
The telecoms company merged with Columbus International announced its entry into the Costa Rican market, where it will focus on the segment of corporate services.
After having merged with Columbus International in late 2014, the company with a major operation in Panama, announced that it will be operating in Costa Rica, mainly providing corporate services such as internet links and national and international data (MPLS), managed networks, and services based on cloud security, among other things.
Cable and Wireless has acquired the company Columbus International, which belonged to Lazus SAS, a Costa Rican company that operates in the telecommunications market in the corporate segment.
With this acquisition Cable & Wireless will increase its presence in Central America, adding to Panama, where it ventured after acquiring 49% of the shares of the public operator.
Dividends for the first trimesters of fiscal year 2012 totaled $16.6 million to be divided up with 49% going to the State, 49% to Cable & Wireless Holdings Limited CALA, and 2% to the company’s workers.
These dividends are for the quarter April to June 2012, and are 60% of the net income for the period, according to the dividend policy.
The Panamanian government will also receive about $745,000 in taxes on dividends from Cable & Wireless CALA Holdings Limited and workers.
The Panamanian National Coordination Council has rejected the sale of shares in Cable & Wireless-owned by the state and land in the Free Zone of Colon and Amador.
The meeting was attended by Minister of Economy, Frank De Lima who explained the government's position in regard to the sale of the shares.
"De Lima focused his presentation on the need for the sale in order to develop the process of electrical interconnection with Colombia, in which the state has to provide capital for $140 million.
President Martinelli suspended special sessions at the National Assembly, in which there were controversial discussions, among them the sale of the State's shares in Cable & Wireless.
The special meetings were held initially to discuss the proposed creation of a Savings Fund of Panama, the Guardian Angel program and modifications to the Penal Code.
The company is aiming to become the majority shareholder of the phone corporation by buying 5% of the shares being sold by the Panamanian government.
The partners of Cable & Wireless (C & W) are on the lookout for a possible sale of the government's shares in the company (49%), in order to acquire 5% more and thus become controlling shareholders with 54% of the company.
America Movil (Claro) and Telefonica (Movistar) were the only ones to submit their cell phone service offerings.
By January 19th, 2011, the Evaluating Commission will open the bids and report to the Superintendence of Telecommunications (Sutel), after analyzing technical issues.
Through a spokesman, Cable & Wireless reported it will not participate.
C & W announced the signing of a memorandum of understanding to acquire 51% of Bahamas Telecommunications Company (BTC).
C & W and the Government of the Commonwealth of the Bahamas worked together to complete the statutory audit, contract terms and obtain the necessary permits and other regulatory approvals in order to complete the transaction by the first quarter of 2011.
At 24 days from reception of offers, Claro is the only company which has confirmed interest in participating in Costa Rica’s mobile telephony bidding process.
Consulted by newspaper La Nación, Cable & Wireless and Millicom said they are looking at the process while Digicel and Spanish Telefonica issued no statement.
"Digicel confirmed in July to have ready the design of a cellular network for Costa Rica, but yesterday only stated, 'We have no comment to questions'. Meanwhile, Telefónica did not make any comments."
The Comptroller General of Costa Rica, considering appeals filed by several companies, ordered changes.
Claims submitted by companies Cable & Wireless Costa Rica, Claro Costa Rica and Centennial Towers indicated the absence of key information, such as related to price caps (to end users), the cost of interconnection to ICE and fees to be paid to Sutel.
The claims were presented by three companies, involve the bases and terms which will regulate the cell phone market in Costa Rica.
This service has been a government monopoly for decades.
Cable & Wireless, Claro and Centenia Towers, have been summoned to a verbal hearing to take place September 30th.
Nacion.com states “The firms agree on the absence of important information, for example, information related to pricing for final users, interconnection costs with current ICE networks (Costa Rica´s Telecommunications Company) and regulation fees for SUTEL (Services Superintendence).
Four companies have submitted observations to the National Comptroller's Office regarding the opening of the mobile telephone market.
The companies that objected to the bid process were Cable & Wireless, Claro (América Móvil), Centenia Towers and Telefónica Española de Costa Rica.
They have begun proceedings with Costa Rica's Comptroller's Office regarding what they consider to be bid terms and conditions that do not comply with the criteria specified in the country's Administrative Contract Law.
The upcoming publication of the conditions for the opening up of telecommunications leads operators to request clearer rules.
Telecommunication companies have asked Costa Rica's Telecommunications Regulator (SUTEL) to provide greater clarity in several areas including procedures for installing Radio Bases, interfacing with networks belonging to the state-owned electricity and telecommunications provider (ICE), and microwave communication.
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