There comes news that Centennial Communications Corp. is going to sell its Dominican Republic operations to Trilogy International Partners for about $80 million in cash. Centennial Dominicana an integrated wireless and broadband network served about 388,900 wireless subscribers. The business collapsed this year. As it is said the transaction to close in first-quarter 2007.
Michael Small, chief executive officer of Centennial announced that this business has been a solid performer for Centennial during the last six years, and they continue to believe the Dominican Republic is an attractive and growing market. Additional investment in this operation was not consistent with their renewed commitment to deleveraging, and they believe that monetizing their Dominican Republic asset at this time was the best alternative for their shareholders.