Indotel and Altice sign a Public Telecommunications Service Concession Agreement

Press Release by the Presidency of the Dominican Republic

Santo Domingo. - The Dominican Institute of Telecommunications (Indotel) awarded the company Altice Dominicana, SA a total of 70MHz between the frequency range of 3400MHz and 3470MHz, which will be used by the provider to offer fixed and mobile telecommunications services throughout the country. country.

The addendum contract was signed in the presence of Nelson Arroyo, president of the Board of Directors of Indotel; by Julissa Cruz Abreu, executive director of Indotel, and Ana Figueiredo, executive director of the Altice concessionaire. It comes into force and will take full effect from Thursday, December 9.

“For us, it is extremely satisfying to reach the consummation of the signing of this addendum for the telecommunications service concession contracts with the Altice company. This fact increasingly strengthens the foreign investment climate in the Dominican Republic and reflects the confidence in legal security in the government headed by President Luis Abinader, ”said the head of the telecommunications regulatory body.

On her side, the CEO of Altice Dominicana highlighted the joint work with Indotel to conclude the process successfully.

"This entire legal framework is important for foreign investment in a country and, as the president said, it gives us stability, security to deploy, continue investing, and also reinforce our investment," he said.

The agreement establishes that the deployment requirements "are based on the percentage of the population covered with the 3400-3470 MHz segment, here assigned, with a peak download speed greater than 60Mbps for each assigned 10 MHz block."

The municipalities that will be benefited by the goals of the minimum expansion plan are Santo Domingo Este, Santo Domingo Oeste, Santo Domingo Norte, Santo Domingo de Guzmán, Santiago, San Cristóbal,, Los Alcarrizos, Higüey, La Romana, La Vega and San Pedro of Macorís.

The addendum also establishes that "as consideration for the award and consequent assignment," the Altice concessionaire will pay the sum of US $ 20,678,000 through four payments of US $ 5,169,500.00 each.

The first of these payments was made by Altice at the time of signing this document, while the remaining payments will be made through annual, equal and consecutive installments of USD $ 5,169,500.00, no later than December 9 of the years 2022, 2023 and 2024, respectively, until completing 100% of the amount owed.

It is specified that, in addition to these payments, the concessionaire will have the responsibility of complying with the obligations assumed with the Minimum Expansion Plan and the provision of public telecommunications services in the country.