News Cable group Altice’s subsidiary Altice Caribbean has agreed to acquire Tricom and Global Interlink (together ‘Tricom’), a triple-play and mobile operator in the Dominican Republic, from its current owner Hispaniola Telecom, a company controlled by Amzak Capital Management and Inversiones Bahia since 2010. The acquisition is subject to approval by the Dominican telecoms regulator Indotel.
Altice is a Luxembourg-based company, founded by telecom entrepreneur Patrick Drahi. Altice currently owns and operates cable, mobile, DSL and datacenter companies in Israel, Belgium, Luxembourg, the Caribbean, Indian Ocean, Portugal and Switzerland. Altice will acquire around 88% of Tricom, while the present shareholders will retain a 12% stake. As reported, Altice plans to use Tricom’s quadruple-play platform to continue its TV and broadband development and expand Tricom’s mobile offering. No financial details related to the transaction have been disclosed.
Tricom was founded in 1988 by Arturo Pellerano, whose shares were bought by Amzak and Bahia Investments after a debt-restructuring program. Tricom is one of only two full service telecommunications providers in the Dominican Republic, offering over 800,000 customers cable television, residential and corporate internet/data, as well as fixed and wireless telephony.
www.altice.net/files/Altice_Press_Release_31.10.13.pdf