THE GOVERNMENT is set to earn $1 billion from the sale of another two cellular licences, which will go to two overseas companies.
Cabinet has approved the issuance of the licences, subject to finalisation of due diligence procedures.
In his presentation to the Sectoral Debate on Tuesday, Minister of Industry, Technology, Energy and Commerce, Phillip Paulwell, said the Government had pulled in $6.5 billion from the sale of three mobile licences over the last six years. Starting in 2000, Digicel, Oceanic Digital (MiPhone) and AT&T Wireless have acquired cellular licences to operate in Jamaica.
LATEST RECIPIENTS
The latest companies to acquire licences are Wire 9 PLC, a company based in the United Kingdom, and United States-based Wiiscom. Of the two now up for sale, one will be granted on the 1800MHz band and the other on the 1900 MHz band.
Mr. Paulwell also told the House that Digicel was granted an additional 6 MHz to expand and improve its existing network capacity and performance.
The cost to the company is $156 million.
