Denis O'Brien's Caribbean telcoms company Digicel has been granted a licence to establish a GSM network in the Turks and Caicos Islands.
The islands have an estimated population of 20,500 and lie to the north of Haiti and southeast of the Bahamas. With a total land area of 430sq kms, (166.02sq miles) the islands' economy is based mainly on tourism, fishing and offshore financing. The development brings to 16 the number of markets in which Digicel is now operating.
The company said the launch of its service in Haiti is "imminent".
The granting of the licence to Digicel marks the ending of a 106-year monopoly on the islands for Cable & Wireless, Digicel's biggest rival in the region.
"The benefits Digicel has created in other Caribbean markets will help bring cutting edge technology to the telecommunications sector while making a significant contribution towards the development of our tourism, financial services and local businesses," said the Honourable Jeffrey Hall, Turks and Caicos Minister for Communications. Colm Delves, Digicel's group chief executive, said the latest move "marks our continued commitment to extend our reach across the region".
Digicel was launched in its first market, Jamaica, in April, 2001. It has invested more than €830 million in growing its business in the Caribbean and employs 1,500 people. The firm is more than 87 per cent owned by Mr O'Brien.
