TECH NEWS- Jamaica is the first country in the region to approved acquisition of Columbus Communications by Cable & Wireless Communications (CWC). Approval was granted by that island’s Science, Technology, Energy and Mining Minister Phillip Paulwell.
In making the announcement on Thursday, Paulwell said he obtained major concessions for consumers in return for the approval of the acquisition by CWC of Columbus International’s assets in Jamaica—Columbus Communications Jamaica Limited (Flow) and Columbus Networks Jamaica Limited (CNJL).
Approval by Jamaica is only the second in a series of hurdles for proposed acquisition which is also subject to regulatory approval in T&T and Barbados, as well as the approval of the US anti-trust authorities and that country’s telecommunications regulator. At a meeting in London in early December, CWC shareholders gave approval.
No approval is needed from the regulatory agency for the Eastern Caribbean, the Eastern Caribbean Telecommunications Authority (Ectel), on behalf of Dominica, Grenada, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines. Up to late yesterday, there was no word from local regulatory body, the Telecommunications Authority of T&T (TATT), on the status of the CWC/Columbus request. More
