Digicel IPO is back in play as O’Brien to slash debt by $1.4bn

The tycoon could try again to float his mobile phone company following the sale of its Pacific arm to Australian giant Telstra

31st October, 2021
Digicel IPO is back in play as O’Brien to slash debt by $1.4bn
The sale of the business will give Digicel some much-needed flexibility on its balance sheet, and has prompted some market analysts to speculate that Denis O’Brien may make a second attempt at an IPO for his company. PIcture: Fergal Phillips

Denis O’Brien will use the $1.4 billion net proceeds from the sale of Digicel’s Pacific business to slash its bloated debt burden by 25 per cent and secure his near-100 per cent control of the company, the Business Post understands.

The move also paves the way for the billionaire businessman to make a second attempt to tap US stock markets with an initial public offering (IPO) of Digicel in the coming...

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