Caribbean-focused telco Digicel Group has agreed to acquire Bermuda Telephone Company (BTC) for an undisclosed amount.
The deal, which is subject to regulatory approval, is aimed at complementing Digicel’s mobile offering with BTC’s fixed voice and…
Caribbean-focused telco Digicel Group has agreed to acquire Bermuda Telephone Company (BTC) for an undisclosed amount.
The deal, which is subject to regulatory approval, is aimed at complementing Digicel’s mobile offering with BTC’s fixed voice and internet services, a Digicel spokesperson told TelecomFinance.
The BTC sale comes only a few months after Canadian investment group Barrie Holdings bought the operator from local telco group KeyTech for BMD$30m (US$30m). KeyTech was reportedly required to divest the asset to be able to acquire a controlling interest in rival CableVision.
Barrie Holdings director Roy Graydon, who became BTC executive chairman following the sale, was reported as saying that the Digicel’s offer was an opportunity to substantially accelerate BTC growth.
Rival Cell One already provides mobile, fixed-line and internet services.
Founded in 2001, Bermuda-incorporated Digicel Group operates in 32 markets in the Caribbean, Central America and Asia Pacific, providing services to about 13 million subscribers.
Last year, the company continued its aggressive expansion strategy, buying Jamaican triple-play operator Telstar, WIV Cable TV in the Turks and Caicos Islands, and SAT Telecommunications, which provides TV, telephony and broadband internet services to customers in Dominica.
