Wind Telecom announces new equity investment
Santo Domingo.- Wind Telecom, a telecommunication services provider in the Dominican Republic announces a US$27 million investment as part of a capital structure consolidation strategy. This investment will pave the way for the evolution of its current 4G wireless services to 4G LTE (a standard for wireless communication of high-speed data for mobile phones and data terminals). When this transaction is concluded, the Cibao International Airport will join WIND TELECOM as a shareholder and member of its Board of Directors.
As a new shareholder, the Cibao International Airport joins the International Financial Corporation (IFC, a member of the World Bank Group), the Central-American Mezzanine Infrastructure Fund (CAMIF) and the Inter-American Investment Corporation (IIC, a member of the Inter-American Development Bank Group) as registered shareholders of WIND TELECOM.
“With this announcement, we consolidate our corporate structure and ensure the positioning of our company. Influential leaders in our country’s business community look to WIND TELECOM as a viable and attractive option for investment in the competitive market for high quality telecommunication services in the Dominican Republic”, said Mr. José Clase, Chairman and Chief Executive Officer of WIND TELECOM.
Mr. Clase also thanked IFC and CAMIF for their additional investments during this latest round of financing, stating that “this additional equity acknowledges the actions taken by WIND TELECOM’s management team in the last two years to position the company in the Dominican Republic telecommunications market”.
The new investment will allow WIND TELECOM to upgrade its current 4G services to 4G LTE with a 2013-2015 rollout on its 2.5-2.7 GHz spectrum frequency; and deploy the massive expansion of its access networks through fiber optics. The company is already far along the process of selecting providers for both projects, and will announce this selection as soon as a decision is reached by its Board.
These plans will consolidate WIND TELECOM’s participation as a multi-service provider of telecommunication solutions for homes and businesses in the Dominican Republic, while strengthening its position as the preferred service provider in the 14 provinces where it currently brings state of the art technology to its clients.
Category: DR News |