Altice Group CEO Patrick Drahi has revealed that Dominican operators Tricom Telecom and Orange Dominicana will be merged within a seven-month period, once the takeover of the two companies has been finalised. Local news agency Noticias Sin reports that the merged entity will adopt the Orange Dominicana brand name, adding that the new parent company has pledged to invest USD390 million over three years, in order to extend the coverage of fibre-optic and 4G Long Term Evolution (LTE) technology in the country. Drahi has promised to work towards a reduction in prices and a simplification of operations and products. As previously noted, the transaction is subject to regulatory approval from the Dominican Republic’s telecoms watchdog, Instituto Dominicano de las Telecomunicaciones (Indotel).
As previously reported by TeleGeography’s CommsUpdate, in November 2013 Altice Caribbean, a subsidiary of Altice Group, signed an agreement to acquire Dominican integrated telecoms services provider Tricom from its current owner Hispaniola Telecom, a company controlled by Amzak Capital Management and Inversiones Bahia, for USD400 million. In addition, towards the end of the month, Paris-based Orange Group agreed to sell its Orange Dominicana unit to Altice for EUR1.1 billion (USD1.435 billion).