C&W set to buy Bahamas telecom firm

first_img Share Tags: NULL C&W set to buy Bahamas telecom firm The deal will be completed in the first quarter of 2011. State-owned BTC is the exclusive mobile operator in the Bahamas and also provides fixed-line and broadband services. The Bahamas government hopes that by privatising the business it can modernise its telecommunications network and aims to open up the mobile network to competition within the next three years. CWC will also oversee a restructure of BTC’s workforce. Some redundancies are expected although the number of likely redundancies is unclear. CWC said they would be carried out on a voluntary basis where possible.BTC has around 392,000 mobile customers, 123,000 fixed-line and 19,000 broadband subscribers, generating revenue of $361m in 2009, CWC said.The telecoms firm said it expected to fund the deal from its existing cash balances and debt facilities. The transaction is expected to be earnings and cash flow accretive excluding restructuring costs. Tony Rice, CWC’s chief executive, said the deal represented a “great opportunity” for the business to expand into the region and would fit its strategy to “develop through market leading and cash generative businesses.” KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Thursday 2 December 2010 7:09 pm CABLE & Wireless Communications (CWC) said yesterday it had signed an agreement with the government of the Bahamas to acquire a 51 per cent controlling interest in the Bahamas Telecommunications Company (BTC) for $210m (£135m). More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Show Comments ▼ whatsapp whatsapplast_img

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