Docomo Pacific, a unit of Japanese investment powerhouse NTT Docomo, has agreed to purchase the sole cable operator on the island of Guam - MCV Guam Holdings - from Seaport Capital for an undisclosed sum, according to published reports.
According to a report in the Pacific Daily News, Docomo Pacific is the largest mobile phone service provider on the island - a U.S. territory since 1898 -and has about 65,000 mobile phone customers on the island. According to people familiar with the transaction, MCV Holdings, which does business as MCV Broadband, has about 40,000 customers on the island.
New York-based private equity firsm Seaport Capital purchased a 90% stake in MCV in 2005. Founding partner Bill Luby said the deal should close by the end of the year.
He added that the decision to sell was driven by the normal investment cycle.
"We're a private equity firm and we've owned the asset for seven and a half years," Luby said.
Luby said New York based telecom investment banker Waller Capital Partners served as financial adviser to Seaport for the transaction and led the auction process.
Weekly digest of streaming and OTT industry news
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.