Digicel Planning $500 Million Network Investment This Year

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Digicel is planning to invest around USD500 million this year expanding its networks in the Caribbean and Central America, the company's founder, Denis O'Brien has said.

Denis O'Brien told the Irish Times that he will launch a "massive push" this year to expand his global telecoms business into next-generation mobile and fixed line services.

"We're surging capex [capital expenditure] this year," he said. "We think there's great opportunities to go for more market share and new products. We have a massive push."

However, the network expansion funding is less than he is taking out of the firm in dividends this year, estimated at around USD650 million. Irish born Mr O'Brien is a resident of Malta, in part to save on capital gains tax on investments.

He also confirmed that there are currently no plans to list the company on the stock market, and any future acquisitions would remain in its core markets, describing the European market as hamstrung by regulators.

On the web: Irish Times

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