Following the announcements earlier this year, its was reported that Digicel has completed its acquisition of Bermuda Telephone Company (BTC). The details of the acquisition such as how much they had paid for the company have however yet to be released. On Tuesday, the CEO of Digicel Bermuda, Robin Seale said in a issued statement that the buyout would put the company in a better position to serve its customers.
“With the acquisition now complete, we are even further committed to delivering the best value, service and network on the island while expanding our suite of products and services to offer a larger portfolio to our customers,” he said. “Digicel is already heavily investing in increasing the capacity of our service and the acquisition of BTC will provide the framework to broaden that even further; growing our business, creating more jobs and investing in the future of Bermuda’s communications industry.”
The news of intentions to make the acquisition first surfaced earlier this year in January, just six months after Canadian-led Barrie Holdings bought BTC from KeyTech for US$30 million.
Given that there would be two dominant players in the Bermuda telecommunications market, Digicel and KeyTech Group, the Chief executive officer of the Regulatory Authority of Bermuda, Robert Watson, assured the citizens that he would “keep a close eye on it to see there is no predatory pricing”. The KeyTech Group has subsidiaries CableVision Bermuda and Logic, and has cellphone firm CellOne as an affiliate.
“We got these assurances from Digicel and we feel they are a good company to ensure a competitive, innovative choice for the people of Bermuda,” has also told the Royal Gazette.