Digicel Buys Block of 700Mhz Spectrum for Jamaican Network
Published on: 4th Apr 2014
By: Ian Mansfield
Jamaica based Digicel has bought a block of 700Mhz radio spectrum for just over half the price that the government failed to sell it at last year.
Phillip Paulwell, minister of science, technology, energy and mining, said the band had been sold for USD25 million, which is nearly half the USD45 million that it offered to sell the spectrum for last October.
The government denied that it had sold the spectrum at any cost to meet an IMF repayment requirement.
"In retrospect, it would have been difficult for us to have got as much as we thought there was value in it and even after we were seeking to negotiate, we were way below the USD25 million. People were coming to us at 10. Getting 25 in the end has been quite significant," the minister told The Gleaner newspaper.
The government has still only sold one block of 700Mhz spectrum, and still aims to sell the remaining blocks.
The spectrum is set-aside for LTE services.
On the web: The Gleaner