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CWC AGREES TO ACQUIRE COLUMBUS INTERNATIONAL INC. TO ACCELERATE GROWTH STRATEGY AND DELIVER SUPERIOR CUSTOMER SERVICE

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Providenciales, 6 Nov 2014 (CABLE & WIRELESS NEWS RELEASE) –

The combined business will:
 Deliver broader pro-consumer product offerings and improved services
 Inject state of the art TV and next-generation super-high-speed broadband technology into CWC
 Deliver huge opportunities to the Business and Government sectors
 Provide rapid lead in fixed mobile convergence through premier network platform

Cable and Wireless Communications PLC (CWC) has reached a conditional agreement to acquire Columbus International Inc. The proposed acquisition, valued at US$3.025bn will enable the combined company to significantly accelerate its growth strategy, improve service delivery to customers in the region, offer customers a comprehensive portfolio of high-quality products and services, and strengthen their position against larger competitors. The increased scale and capabilities of the combined company will provide the technical platform and financial capacity to help enable CWC to drive greater innovation and expand our geographic footprint.

The combination of the two companies is consistent with global industry trends, where convergence of fixed and mobile networks, increasing content consumption growth, and continuing development of online applications are driving requirements for high bandwidth, fixed line networks and TV capabilities. Operators in Europe and North America, as well as regional competitors, are acquiring and constructing networks that are capable of supporting ever-growing data needs along with new video capabilities. The combination of the two businesses supports CWC’s new strategy and its four primary areas of focus: Drive Mobile Leadership; Accelerate Fixed-Mobile Convergence; Reinforce TV Offer; and Grow Business to Business and Business to Government sectors. This strategy is underpinned by CWC’s announced US$1.05billion Project Marlin capital investment programme. Additionally, CWC believes that the combination of the two businesses will generate material operating cost and capital expenditure synergies. Similarly, Columbus believes that the combined strengths of both companies will accelerate growth, provide the necessary scale to enhance the customer experience, and help to allow Columbus to achieve its goal to become the “Best service provider” and “Employer of Choice” in the region.

The proposed combination of CWC’s region-leading mobile footprint and existing fixed line infrastructure with Columbus’ pay TV capabilities and next-generation, state-of-the-art fibre networks will significantly expand the product and service offerings for customers and also advance the companies’ quad play ambitions. The combined business will also deliver the benefits of superior quality network infrastructure, fixed-mobile products and bundles, superior TV content at competitive rates, and a more attractive portfolio of products and services in the B2B and B2G segments.

Phil Bentley, CWC’s Chief Executive Officer said: “This is a transaction that transforms CWC, providing a step-change in growth and returns. Columbus offers complementary TV, Broadband and B2B capabilities in complementary markets. Together, we will create the best-in-class quad-play offering in the region, delivered on a superior mobile, fibre and subsea network. This is a significant opportunity to better serve our customers and improve the ICT infrastructure of the communities in which we operate, whilst accelerating our strategy and delivering materially enhanced returns and synergy benefits.”

Similarly, Columbus’ chairman and CEO, Brendan Paddick indicated that, “Together we will form a truly world-class company focused on our customers in the Caribbean, Central America and the Andean regions. The proposed acquisition makes both companies stronger, faster and smarter in competing with their larger competitors. The proposed transaction reinforces our commitment to transform connectivity in the region, to increase the attractiveness of the region to investors, to support the growth of the communities we serve by making them more globally accessible and to ensure that our customers always have access to the best products and services available.”

For both companies, the proposed acquisition also enables greater focus on the Caribbean, Andean and Latin American markets as a region that offers attractive growth. The proposed acquisition will provide new opportunities and focus in Colombia, Guatemala, Costa Rica, Honduras, El Salvador, Dominican Republic, Puerto Rico and Peru.

“Our goal is to provide customer-focused solutions and the highest level of service across the region. This agreement will accelerate our efforts through a strengthened set of assets and capabilities,” Bentley affirmed.

The recent acquisition of both Groupo Sonitel in Panama, combined with Columbus’ Lazus in acquisition in Colombia will accelerate CWC’s progress against the new streamlined strategy.

About Cable & Wireless Communications Cable & Wireless Communications Plc (CWC) is a full-service communications provider operating in 16 countries throughout the Caribbean and Latin America. Operating four leading businesses: – Cable and Wireless Panama, LIME, (the Caribbean excluding The Bahamas), BTC (The Bahamas) and Cable and Wireless Seychelles; CWC offers mobile, broadband, TV, domestic and international fixed line services in most of our markets serving over 5.6m customers. CWC also provides premium data centre hosting, telecoms, domestic and international managed data network services and custom IT Service Solutions to businesses and governments through the new unit, Cable & Wireless Business Solutions. Our mission is to grow customer relationships and lifetime value by becoming #1 for Customer Service. We are the market leader in most products they offer and territories they serve. For more information visit: www.cwc.com
About Columbus International Inc.

Columbus International Inc. is a privately held diversified telecommunications company based in Barbados. The Company provides digital cable television, broadband Internet and digital landline telephony in Trinidad, Jamaica, Barbados, Grenada, St. Vincent & the Grenadines, St. Lucia and Curacao under the brand name Flow and in Antigua under the brand name Karib Cable. Columbus also provides next generation connectivity and IT solutions, managed networking and cloud-based services under the brand Columbus Business Solutions. Through its subsidiary, Columbus Networks, the Company provides capacity and IP services, corporate data solutions and data centre hosting throughout 42 countries in the greater Caribbean, Central American and Andean region. Through its fully protected, ringed submarine fibre optic network spanning more than 42,300 km and its 38,000 km terrestrial fibre and coaxial network, Columbus’ 3,150 plus professionals provide advanced telecom services to a diverse residential and corporate client base of over 700,000 customers.

For more information visit www.columbus.co

Magnetic Media is a Telly Award winning multi-media company specializing in creating compelling and socially uplifting TV and Radio broadcast programming as a means for advertising and public relations exposure for its clients.

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Two Deaths on Monday July 8, Police report on Sudden Death and Unresponsive Male

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#TurksandCaicos, July 19, 2024 – Officers of the Royal Turks and Caicos Islands Police Force are actively investigating separate sudden deaths that occurred in South Caicos and Providenciales.

On Monday, July 8th, 2024, shortly after 10 a.m., the Police Control Room received a call reporting that a male employee had fallen from the fourth floor of a Resort in South Caicos.

Officers and medical personnel were dispatched, and upon arrival at the resort, officers were told that the employee was fixing an air-conditioning unit when he fell off a ladder.  The male was transported to the South Caicos Clinic for treatment but was pronounced dead at 11:47 AM.

The deceased has been identified as a 47-year-old Indian national, whose name is being withheld at this time, pending the next of kin being informed.

The second incident occurred shortly after noon in Providenciales.

Officers of the RT&CIPF responded to a report made at a Resort located along Lower Bight Providenciales. Upon arrival at the scene, officers observed a male lying on his back on the beach, surrounded by a group of people performing chest compressions. The victim had been removed from the water after being discovered floating.

The 52-year-old victim was rushed to the Cheshire Hall Medical Center via ambulance but sadly passed away.

The RT&CIPF extends condolences to the family and friends of the deceased men

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TCI Cabinet agrees to subsidise South Caicos international flights in May 29th meeting

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#TurksandCaicos, July 19, 2024 – Her Excellency the Acting Governor Anya Williams chaired the 16th meeting of the Cabinet on Wednesday May 29th, 2024, at the Office of the Premier on the island of Providenciales.

All members of Cabinet were present with the exception of Governor H.E. Dileeni Daniel-Selvaratnam.

At this meeting Cabinet:

  1. Approved the Statutory Bodies 4th Quarter Special Purpose Financial Report for FY 2023-2024.
  2. Approved the 4th Quarter Financial Report for the Turks and Caicos Islands Government and agreed for the report to be published on the government’s website.
  3. Granted approval under Refurbishment Policy for a duty concession on the importation of construction, materials, furniture, fixtures, and fittings for the Palms Resort.
  4. Granted approval of the request from the Ministry of Public Safety to access the Contingency Fund to support immediately required security arrangements.
  5. Did not support the request for the waiver of Import Customs Duty.
  6. Granted approval for the disposal of 73,000 cubic yards/meters of silt that will be dredged from the seabed during the South Dock Redevelopment Project.
  7. Granted approval for amendments to the Electricity Ordinance and approved Draft Control of Capital Investment Policy which would allow for advance approval of any significant capital expenditures by a public supplier.
  8. Granted approval for the reappointment of the following persons to the Electricity Board for a period of one (1) year commencing May 21, 2024: John Ariza-Chairman, Master Electrical, Richard Harvey-Member, Electrical Contractors, Menelik Astwood-Member TCICC, James Fulford-Member Electrical Contractors, Director of Planning-Dainer Lightbourne-ex-officio, Energy and Utilities Commission-Delano Arthur-ex-officio and Permanent Secretary (MPSU) Mrs. Bridgette Newman ex-officio, and Shanetta Thompson appointed as Secretary for a period of 2 years.
  9. Granted approval for a long-term lease over Parcels 10506/29 South Suburbs, Grand Turk for the development of a cruise stop over resort type facility.
  10. Noted the findings of the Registrar and approved an interim settlement to be paid in respect of Interim Certificate of Taxation re: CL 42/21 Thanbyrase Srikanth et al v Director of Immigration et al-Cost Certificate)
  11. Granted approval of the Draft District Administration Bill 2024 and noted the stakeholder consultation plan that was scheduled to be conducted throughout the islands.
  12. Noted the previous approval for the budget reallocation within the DMMO Experience Turks and Caicos to fund the minimum revenue guarantee (MRG) in respect to international airlift to the island of South Caicos

Further information on these matters will be provided by Ministers in due course.

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Government

Proposed Amendments for Business Licensing in TCI heard at June 4 Cabinet Meeting  

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#TurksandCaicos, July 19, 2024 – Her Excellency the Acting Governor Anya Williams chaired the 17th meeting of the Cabinet on Tuesday June 4th, 2024, at the Office of the Premier on the island of Providenciales.

All members of Cabinet were present with the exception of Governor H.E. Dileeni Daniel-Selvaratnam, Attorney General Hon. Rhondalee Knowles and the Ministers of Home Affairs and Public Safety and Utilities.  Ms. Yaa McCartney attended in the capacity of Acting Attorney General.

At this meeting Cabinet:

  1. Received a presentation from the Ministry of Finance on the proposed amendments to Business Licensing which was being put forward as a result of the consultations that had taken place and agreed next steps.

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