In the news today? Digicel is buying BTC? I thought we were trying to increase competition to increase speed and lower cost. Not decrease competition. We know what is going to happen then, right? Lower speeds, higher prices? Digicel spins it as, they will be able to “bring better value to consumers.” :þ
‘You may leave a comment below with your thoughts!’
No one puts it better than “Fresh Air” in his comments on the Royal Gazette website: “So far, telecoms reform has mainly been a game of the local players trading assets to maintain the status quo (low speeds for high dollars). Will this be any different? This will be a tough call for the RAB as it allows Digicel to be the 1000 pound gorilla that the whole reform exercise was designed to do away with …” More from RG
The change of ownership still has to be approved by the Bermuda telecoms watchdog the Regulatory Authority of Bermuda (RAB). A RAB spokesman said it was aware of the proposed takeover.
He added: “The Authority is actively seeking relevant details of the transaction from both parties to enable the formal review process under the Regulatory Authority Act 2011 to take place.
And he said: “Public comment on the proposed transaction will be sought as a part of our deliberations in due course.”
Island telecoms firm KeyTech Ltd sold the company in August last year to Barrie Holdings, which paid $30 million — below the book price — for BTC.
Mr Graydon said at the time the acquisition was the start of a new era and pledged to grow revenue and build a network to provide a range of services, including TV signals, internet access and even home monitoring systems.
There was a short story about it in Bernews.com yesterday:
Digicel Confirms They “Intend To Acquire” BTC
January 14, 2015
Digicel has confirmed they have “finalised an agreement whereby Digicel intends to acquire BTC,” saying they believe that “BTC’s fixed voice and internet services will complement Digicel’s mobile offerings allowing Digicel to bring better services and value to consumers.”
A statement from Digicel said, “As a complete communications and entertainment provider, we are always looking for opportunities to bring the Digicel promise of best service, best value and best network to more people and to grow and enhance our service offering. As such, Digicel and BTC have finalised an agreement whereby Digicel intends to acquire BTC.
“Digicel believes that BTC’s fixed voice and internet services will complement Digicel’s mobile offerings allowing Digicel to bring better services and value to consumers.
“The financial terms of the agreement are confidential and will not be disclosed. In addition, the proposed deal is subject to regulatory approvals and as such, we must hold for those before progressing with our plans.
“With the good of customers and employees being our main concern, our intention is to grow our business here in Bermuda and to invest in the future.
“That will see us working to improve the service delivered to customers and looking to build out and enhance the products and services offered to them with an ultimate view to delivering an enhanced multimedia experience across multiple devices.
“As and when we have updates, we will be sure to give them. But it is worth pointing out that Digicel is built on a promise of delivering best service, best network and best value – and to giving back to our communities.
“As such, you can expect us to take the same approach in this regard in terms of investment and innovation. We would like to take this opportunity to say thank you for the opportunity to serve the people of Bermuda and to reiterate our commitment to them.”
Commenter “Karma” at Bernews says to watch out for Digicel to start clamping down on free VoIP services over their networks: “@WOW …
What if your ISP or Cell Phone Carrier decided to BAN you from using free or paid VOIP services like Skype or Facetime. Don’t think these guys wouldn’t or couldn’t do it?! Think again, take a read at the article below. Be careful what you wish for.