Sunday, April 21, 2024

Plan for new entity


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A “NEW COMPANY” will emerge once regulators approve Cable & Wireless Communications’ (CWC) intended acquisition of Columbus International Inc.

And while the plan also includes “a new leadership team, and a new culture”, CWC’s chief executive officer Phil Bentley said the company did not intend to “pre-empt the outcome of the regulatory process”. He also said it was too early to say what the company would be called.

The deal to combine the operations of the two telecommunications companies has been granted regulatory approval in Jamaica, but CWC is still waiting to see if it will also receive the green light in Barbados.

When the DAILY NATION asked Bentley if he was confident the deal would get the nod from regulators here, he said: “We are enormously respectful of the important role the regulators play in our industry. They must ensure any deal will benefit Barbados and the country’s economy, and indeed to the wider region. So we are actively discussing our merger with regulators and policymakers in Barbados and across the region.” (SC)

Please read the full story in today’s Daily Nation, or in the eNATION edition.



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