Digicel expands Caribbean submarine fiber network and capacity

Caribbean mobile operator Digicel has reached an agreement with French Loret Group and Caribbean Fibre Holdings to acquire a submarine fiber network across the Caribbean region, according to a company press release.

The value of the transaction was not disclosed, and the deal is still subject to regulatory approval.

The additional 2,100km of cable will bring Digicel's Caribbean total fiber optic cable to 3,100km, comprised of 15 submarine segments. The new cable will stretch from Trinidad to Guadeloupe.

Digicel has also committed to provide submarine fiber capacity that will reach from Guadeloupe to Puerto Rico with mainland connectivity to the US, through companies Global Caribbean Fibre and Global Caribbean Network.

Digicel operates in 31 markets in the Caribbean, Central America and Asia Pacific. After 12 years in business, it has invested more than US$4.9bn globally.

Global Caribbean Fiber (GCF) is the company encompassing Global Caribbean Network, Middle Caribbean Network, Southern Caribbean Fiber and Antilles Crossing. Loret holds 60% of GCF and US investment firm Leucadia National (NYSE: LUK) holds the other 40%.