Number of Digicel subscribers hits 4 million

DIGICEL, the mobile phone company owned by Denis O’Brien, says subscriber numbers across the 22 countries where it operates reached four million at the end of last year.

The figure is more than double the number of subscribers it had at the beginning of 2005 as it launched in new markets across the Caribbean and South America.

Digicel said that it now had more than one million customers in Haiti having only launch in the country in May 2006.

“Digicel’s progress in 2006 reinforced our position as the largest (mobile) provider in the Caribbean region, with sustained growth in our existing markets and unrivalled growth through our entrance into new markets, such as Haiti, Trinidad & Tobago, Guyana and El Salvador,” Digicel chief executive Colm Devles said in a statement.

The company said its investment in the region is now more than $1.5 billion (€1.15bn).

It did not release sales or profit figures for 2006 yet, but it is believed that its earnings grew strongly reflecting the customer growth.

There has been repeated speculation that Mr O’Brien is gearing the company up for a stock market listing in the US.

As the main shareholder, with a stake nearing 90%, he could net €1.5bn from the sale of the company.

Last year he described Digicel as “the best investment I have ever made”.