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IN THIS ISSUE:

Brazil: Gloves Off at Claro
Mobile subscriber growth in Brazil continues at breakneck speed well into 2005, but the increased growth has not come without a cost. Analyst Thomas Abreu discusses how shrinking EBITDA margins will factor into the battle over Latin America's largest market. 

Caribbean: Digicel Builds a Cingular Presence
Digicel has struck yet again by acquiring Cingular's Caribbean assets, adding five new markets to its footprint and increasing its presence in five others. Associate Analyst Aaron Schwirian argues that Digicel will be able to replicate the success it has enjoyed in other regional markets and solidify its hold in the region.

Honduras: Liberalization Brings a Merry Christmas to the Sector
The Honduran fixed sector is set to be officially opened to competition on December 25, 2005. Analyst Vanessa Larez believes that preemptive moves by the government will somewhat ease this transition but the Central American market still has a long way to go before reaching Latin American levels.

Publication Date: July 2005