Digicel yon konpaniy prive antre Ayiti a kote mache piblik.

NATION NEWS

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No sharing in Digicel empire
Published on: 11/19/07.




DO NOT LOOK FOR SHARES of Digicel on the stock market anytime soon; its owner, Denis O'Brien, says he not ready to take the telecoms empire public.
In an exclusive interview with BARBADOS BUSINESS AUTHORITY O'Brien said that while he had not ruled out the possibility of widening the private company's ownership, "there are not imminent plans but that is not to say that we would not do it".
The telecoms mogul, who invested US$75 million to $80 million in his Barbados operation where business has been "going very well", said investors would find it difficult to understand some of his investment decisions.
One investment that being the man in charge allowed him to make was the US$16 million he pumped into Haiti, the Western Hemisphere's poorest country.
"The public market doesn't understand that, but I understand Haiti. I've been there 20, 30 times, I understand the market and I think it is a great opportunity," he added.
According to him, shareholders in New York or London would not appreciate such business decisions.
Commenting on the rest of the region, O'Brien said over-regulation could become a problem for investors in the Caribbean.
"I think the region can learn from the European Union. Europe is way too regulated. . . . If you want to set up a small business in Europe it is very difficult for you to meet all the rules and regulations," the Digicel boss noted.
He urged the Caribbean to ensure that it created the right balance between regulation and over-regulation.
O'Brien was in Barbados to participate in the Cave Hill School of Business' Caribbean International Leadership Summit.