News : Digicel: BTC Merger Would Create Jobs
Hamilton, Bermuda May, 2015 -- More jobs for Bermudians will be created at Bermuda Telephone Company (BTC) if it is acquired by Digicel, and investment will be made to improve the performance and reliability of BTC’s network infrastructure.
Those are two of the outcomes Digicel foresees should it move ahead with the proposed transaction that was announced in January.
The Regulatory Authority of Bermuda (RAB) has studied the deal and last week issued its final decision, which gives a green light for the acquisition subject to Digicel agreeing to a number of conditions.
Digicel is reviewing the 40-page decision document and is expected to respond within the next few days.
The combining of Digicel and BTC would create a telecommunications company to match KeyTech Group, which has CableVision Bermuda and Logic as subsidiaries and cellphone firm CellOne as an affiliate.
In its decision document, which was made available to the public this week, the regulatory watchdog acknowledged there was a risk from Digicel and KeyTech subsequently having joint dominance in the sector. The RAB noted such a duopoly could open the door to tacit coordination on prices and division of the market. However, it did not think this was likely given Digicel’s expressed intention to invest in upgrades and extensions.
"The result can be expected to be more robust competition in price, service quality and innovation, which will be to the benefit of the people of Bermuda," the RAB stated. It also said it would keep a vigilant eye on developments through its market review process.
Posted by Veronica Silva Cusi, news correspondent
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