Michael Prior, CEO of US telco Atlantic Tele-Network, confirmed the company had acquired control of regional telecoms operator Caribbean Telecom Partners (CTP).
In a conference call with investors, Prior claimed that ATN had bought a 51% stake in the…
Michael Prior, CEO of US telco Atlantic Tele-Network, confirmed the company had acquired control of regional telecoms operator Caribbean Telecom Partners (CTP).
In a conference call with investors, Prior claimed that ATN had bought a 51% stake in the wireless provider CTP for US$3.1m.
He said: “The entry price was attractive for us.”
ATN will use its partnership with CTP to push further into the Caribbean telecoms market. Prior highlighted Aruba as a market of interest as it has similar dynamics to Bermuda and the Turks & Caicos, markets where ATN already has operations.
ATN also runs Guyana’s biggest telecom operator, GT&T and is present in the US Virgin Islands.
Prior was not available for further comment at the time of press.
