Digicel Eyes Costa Rica, Bahamas

Caribbean telecom Digicel Group is interested in entering Costa Rica in 2010 and may also look at the Bahamas, when the two countries open up their telecom industries to competition, CEO Colm Delves tells LatinFinance. Costa Rica is in the process of allowing the private sector to operate in its telecoms sector, he adds. “There is talk that the Bahamas is also opening up. I understand there is a process to sell a stake in the [national telecommunications] company, which in turn will lead to privatization of that market, but we are probably talking about a 2-year timeframe,” Delves explains. The Bahamas Telecommunications Company has hired Citibank to advise on the sale of a 51% stake to a strategic buyer. The seller is apparently looking to raise over $300m.