Tag Archives: Cable & Wireless

Cable & Wireless Seeks Latin America Expansion

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Cable & Wireless Communications (CWC) which operates in the Caribbean under the brand LIME – is looking to expand its operations with further Latin America acquisitions.

The move follows the recent sale of its Monaco & Islands division to Bahrain’s Batelco for US$680 million and the sale of the 51% stake in the Macau based telecoms network, CTM for US$750 million.

Cable & Wireless  operations remain primarily in the Caribbean and Latin America region and now they have the funds available, they are looking at possible deals in markets such as Cuba, Puerto Rico and the Dominican Republic. The company is targeting smaller markets and wont invest in countries such as Brazil — which he said were too big for the small company to deal with, says Tony Rice, Chief Executive Officer

He also confirmed that any deal would be aimed at landline assets that come with mobile operations rather than mobile-only operators.

“We see our business model in full service,” saying that the strategy had proved successful so far.

 

LIME CEO, David Shaw resigns

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Caribbean based mobile networks, Lime announced that its Chief Executive Officer, David Shaw, has decided to step down after 4 years leading the company. Shaw will be replaced by Tony Rice, who currently serves as chief executive of Lime’s parent company, Cable & Wireless Communications (CWC)

Shaw will remain with the business for the next six months to facilitate a smooth handover of responsibilities.

CWC recently announced its intention to focus its business on the Caribbean and Central American region, after agreeing to sell its Macau and Monaco & Islands operations.

Mr Shaw thanked his colleagues in Lime for their support during his time running the business:

“As a team, we have achieved a great deal during the past four years. Our business is fighting back in Jamaica, in The Bahamas we are well positioned to face up to competition when it comes, and we are competing strongly in our other markets. The business is more focused than ever on delivering for our customers.”

In an interim financial statement, the parent company said that it had maintained mobile market share in Panama, growing mobile service revenue by 5% with an increasing number of customers moving to data plans, driving an improved second half performance.

In Jamaica the company said that it continues to see an excellent response to the launch of competitive mobile packages and have increased mobile subscriber base by over 40% compared to the same point last year. The Bahamas is delivering solid progress in its financial performance together with much improved service and product offerings to its customers.

Restructuring costs will be increased by around $20 million to a total of $55 million.

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LIME CEO David Shaw steps down

Telecoms, , , ,

Caribbean based mobile networks, Lime announced that its Chief Executive Officer, David Shaw, has decided to step down after 4 years leading the company.Mr Shaw will remain with the business for the next six months to facilitate a smooth handover of responsibilities.

Tony Rice, Chief Executive of Lime’s parent company, Cable & Wireless Communications (CWC), will take over the leadership of the business, working with Lime’s regional business leadership team.

CWC recently announced its intention to focus its business on the Caribbean and Central American region, after agreeing to sell its Macau and Monaco & Islands operations.

Mr Shaw thanked his colleagues in Lime for their support during his time running the business:

“As a team, we have achieved a great deal during the past four years. Our business is fighting back in Jamaica, in The Bahamas we are well positioned to face up to competition when it comes, and we are competing strongly in our other markets. The business is more focused than ever on delivering for our customers.”

In an interim financial statement, the parent company said that it had maintained mobile market share in Panama, growing mobile service revenue by 5% with an increasing number of customers moving to data plans, driving an improved second half performance.

In Jamaica the company said that it continues to see an excellent response to the launch of competitive mobile packages and have increased mobile subscriber base by over 40% compared to the same point last year. The Bahamas is delivering solid progress in its financial performance together with much improved service and product offerings to its customers.

Restructuring costs will be increased by around $20 million to a total of $55 million.

C&W Worldwide reports full-year EBITDA of GBP 378 million

Telecoms, , , ,

Cable & Wireless Worldwide – operating in the Caribbean and Latin America as LIME -has reported trading in line with expectations for the year ending 31 March with trading cash flow of GBP 99 million, compared to GBP 116 million a year earlier.

It has implemented the first phase of a performance improvement plan, including refinancing, new operating model and additional hosting capacity, and expects market conditions to remain challenging during 2012/2013. EBITDA was GBP 378 million for FY 2011/2012, down from GBP 442 million a year earlier.

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América Móvil – Costa Rica Cellular Bids

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América Móvil (Claro) is the only company that has confirmed its effective participation in the spectrum bidding, out of five that have expressed their interest in taking part in the process.

Cable & Wireless and Millicom are studying how the process was developing, while Digicel and Telefonica would not comment on the matter. Last week, the Costa Rican treasury controller’s office requested that telecommunications regulator Sutel amend and make corrections by 21 October to the tender that will open Costa Rica’s mobile phone market to competition. The licensing of three new mobile operators aims to break the monopoly held by state-owned Instituto Costarricense de Electricidad (ICE). The controller’s office was reacting to complaints filed by Cable & Wireless, Claro Costa Rica and Centennial Towers.

The reception of the bids is scheduled by November 5.

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See the  America Movil, Millicom, Cable & Wireless, Digicel and Telefónica, S.A. records in Latin Target.

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Cable & Wireless and Millicom told the newspaper that they were studying how the process was developing, while Digicel and Telefonica would not comment on the matter. Last week, the Costa Rican treasury controller’s office requested that telecommunications regulator Sutel amend and make corrections by 21 October to the tender that will open Costa Rica’s mobile phone market to competition. The licensing of three new mobile operators aims to break the monopoly held by state-owned Instituto Costarricense de Electricidad (ICE). The controller’s office was reacting to complaints filed by Cable & Wireless, Claro Costa Rica and Centennial Towers.