Centennial Communications ratified the sale of its Dominican subsidiary All America Cables & Radio, which operates like Centennial Dominicana, to the American company Trilogy International Partners for US$ 80 million. The transaction will be closed during 1Q 2007, once it is approved by the Dominican Telecommunications Authority (INDOTEL), and the conditions of the contract are met. According to the president of Centennial Communications, Michael Small, “incurring in additional investments within this operation did not result as consistent with our commitment of reducing the debt level of Centennial Communications” and added, “we believe that the best option at the moment for our shareholders is the alternative to sell our operations in the Dominican Republic”.
Centennial Communications offers mobile telephony in the United States and in the Caribbean (Dominican Republic, Puerto Rico and the American Virgin Islands); has 1.4 million users and 371,500 accesses and equivalent lines. The company’s main shareholders are: Welsh, Carson, Anderson & Stowe and a company subsidiary of the Blackstone Group.
Trilogy International Partners, which is headquartered in Washington, the United States, controls Nuevatel (PCS of Bolivia) and Communication Cellulaire d'Haiti.