The merger, in which the Panamanian government will be a 49% shareholder and gives the companies 56% of the market,"effectively spells the end of competition in the telecomsmarket for smaller players," Digicel said.
These initiatives included appointing an investment bank to market the business to financial and strategic parties and extensive engagement with authorities about the planned merger.With Digicel exiting the market, there would be only one telecom provider, Millicom-owned Tigo, operating in addition to the combined CWP-Claro entity in Panama.
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