DENIS O’BRIEN’S DIGICEL is to launch a “massive push” for greater market share and more products this year and will invest €500 million in its network.
O’Brien also confirmed that the Caribbean and Central American based provider which will not be entering Europe, a market he described as being hurt by “failed policy”.
The Financial Times report that Digicel is expected to pay a $650m dividend to O’Brien but that O’Brien told them that it “hasn’t been paid yet”.
O’Brien founded Digicel in 2001 and the provider now operates in 31 markets and is estimated to have over 13 million customers. O’Brien took full control of Digicel in 2007 and the company’s profits topped $1 billion for the first time in 2012.
As well as its significant share in the Caribbean and Central American mobile markets, Digicel also has operations in the Pacific Islands and has targeted expansion in Asia.
The company suffered a setback in this plan last year, when it was part of a consortium that failed in its bid to win one of two national mobile phone licences in Myanmar.
O’Brien is also the founder and owner of media company Communicorp and is the largest shareholder in Independent News & Media.