American Companies working on Cuba deals ahead of Obama visit
At least three major U.S. companies, AT&T Inc (T.N), Starwood Hotels & Resorts Worldwide Inc (HOT.N) and Marriott International Inc (MAR.O), are seeking to complete deals in Cuba as President Barack Obama prepares to visit Havana, Reuters reports citing a person familiar with the discussions.
The report says Barack Obama’s March 20-22 trip will be the first visit to Cuba by a U.S. president in nearly 90 years.
AT&T is trying to complete a mobile communications agreement with Cuba's state telecoms monopoly Etecsa, while Starwood is also weighing an announcement, according to the source, who was briefed by administration and company officials.
According to the source ATT declined comment, while Starwood said it “has applied for authorization from the U.S. Treasury Department to operate hotels in Cuba.”
Marriott spokesman Thomas Marder said: “We are optimistic that we are going to get a green light soon from the U.S. government to have hotels under the Marriott flag in Cuba.”
Aside from the mentioned, other deals may also be in the works timed for Obama’s visit. Major League Baseball is considering an announcement, according to the person familiar with the discussions. MLB has had discussions with the U.S. and Cuban governments looking for ways to allow big-league teams to sign Cuban players without them having to defect.
White House officials were not immediately available for comment to the agency.