TELECOMS BUSINESSMAN Denis O’Brien has sold his mobile networks in Honduras and El Salvador to Carlos Slim, the world’s richest man.
Slim’s telecommunications company América Móvil announced today that it had agreed a deal to acquire O’Brien’s Honduras and El Slavador businesses – but did not disclose for how much, Reuters reports. Meanwhile, Digicel said it has signed an agreement with América Móvil to acquire its Claro business in Jamaica.
América Móvil is one of the largest telecom companies on the planet, boasting 225 million wireless customers across the American continent – and Digicel has 11.5 million customers across the Caribbean, Central America and the Pacific.
The Sunday Business Post reports that the most recent annual figures for Digicel show that the group reported revenues of $2.2 billion to the end of March 2010.
It is expected that the deal will be finalised in the next quarter, subject to governmental and regulatory approvals in Honduras, El Salvador and Jamaica.