Cable Bahamas welcomes BTC sale
Cable Bahamas is embracing the news of the upcoming sale of Bahamas Telecommunications Company(BTC), saying it’s a step closer to making the sector more fully competitive.
Chief Executive officer of Cable Bahamas Tony Butler said that with the sale of BTC in its final stages, it will allow other companies in the sector to move foward, knowing the outcome of the telecoms company.
“It is pleasing to see that the privatization process is now drawing to a close,”Butler said.”The industry can concentrate again on servicing customers. At Cable Bahamas we believe that every Bahamian should have the very best and the most exciting technology in their hands.”
Butler’s comments came after news broke last week that BTC signed a memorandum of understanding(MOU)with Cable and Wireless to purchase a 51 percent stake in the company for$210 million. The government hopes to finalize the sale by mid-February, and according to Prime Minister Hubert ingraham, if the deal isn’t done by that time, then it may take a few more months to complete.
Cable Bahamas is expected to be another player in the telecoms market, as it is preparing to introduce competitive fixed voice services to add to its catalog of services, which already includes video and broadband. Once its voice service comes on board, it will be the first fully owned Bahamian company to offer Triple Plat packages to consumers.
“It is hoped that this decision will expedite other decisions that will benefit the Bahamian consumer, notably the opening up of the voice telephony market to other competitors, an area[Cable Bahamas]is keen to participate in,”said a statement from the company.”This will facilitate real choice for customers and lead to efficiency benefits, converged services and better pricing.”
Cable Bahamas was also looking to enter the mobile market as well, but their debut into that area will be delayed for another three years due to the amending of the timeline of the liberalization of the sector to three years after the privatization of BTC is completed.
The change made by the government caught the attention of other potential players looking to enter the mobile market, specifically President and CEO of IP Solutions International Limited Edison Sumner, who said it would create an unlevel playing field for his company, along with others.
Sumner said it would place Cable and Wireless at a great advantage and would force other companies to redevelop their business models.