Denis O’Brien’s Digicel mobile group, which is in the middle of a debt restructuring, has denied reports that it is in talks to sell its Pacific unit to China Mobile. The restructuring deal has been largely supported by the bondholders as they fear they face even larger losses if they do not sign up to a consensual deal. Fitch reviewFitch, another leading ratings firm, said this week that it would review its credit assessment of Digicel once the deal was completed. Digicel has spent $6 billion developing its networks and the business has 14 million subscribers across 32 markets in the Caribbean, Central America and Asia Pacific regions. Mr O’Brien took at least $1.9 billion of disclosed dividends out of the group between 2007 and 2015.

Source: The Irish Times May 14, 2020 13:35 UTC