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
Barbados bestows Humanitarian Award on PAHO director Dr. Carissa Etienne
By Shanieka Smith
#Barbados, November 25, 2022 – The newest recipient of Barbados’ Humanitarian Award is outgoing Pan American Health Organization Director, Dr Carissa Etienne. The government of Barbados grants this award to frontline workers who were instrumental during the COVID-19 pandemic.
Upon receiving the award, Dr. Etienne expressed her gratitude for the recognition, noting, however, that she was more grateful for the opportunity to have served on the island. She also praised Prime Minister, Mia Mottley for her diligence in leading the country and regional involvement during the pandemic.
Humanitarian medals were also given to Frontline workers who risked their own safety to ensure the needs of the public were met. Those who held supporting roles on the frontline received humanitarian lapel pins, and those who made generous donations were given humanitarian plaques.
Dr. Etienne highlighted one major lesson from the pandemic, “we are only safe when the weakest among us is also safe”.
Bahamas and Turks & Caicos Immigration Ministers make appearance on TCI Radio Talk Show
By Dana Malcolm
#TheBahamas, November 25, 2022 – “We have a humanitarian concern of course but we can only absorb so much” was how Fred Mitchell, Minister of Foreign Affairs and the Public Service in The Bahamas addressed the issue of the UN constantly nudging Caribbean countries about the deportation of migrants and recommending that it not be done.
He was speaking Thursday November 24 with Cheryl and Zhavargo on First Edition which airs on RTC FM.
While acknowledging that the UN offices likely ‘have to do what they do’ Minister Mitchell explained that the current irregular migrants trying to get into the Bahamas did not fit the bill of ‘refugees’ as defined by the UN.
“We have a treaty obligation that says that if people have a fear of persecution in their home country that we have an obligation to take them in as asylum seekers. The people who come through on these boats from the south of us are not asylum seekers. They are afraid of poverty and that’s a difficult issue but in a legal sense we’re not obligated to embrace people on that basis.”
He cited a study that had found, on any given day there were around 7,000 illegal migrants in The Bahamas trying to get to the US maintaining that his chain of islands had to take a stand on the issue. The Foreign Affairs minister acknowledged that TCI was in an identical situation, citing also the the cultural effects of irregular migration.
“There is a cleavage which has developed in our own society over this; people are very concerned that we could lose our identity if we do not get on top of it.”
Earlier this year Arlington “new sheriff in town” Musgrove, Minister of Immigration and Border Services in the Turks and Caicos had described statements calling on surrounding countries to do more to assist persons fleeing Haiti as “reckless and misguided.”
“Haiti has a population of 11.6 million people. How could any small developing state like the Turks and Caicos Islands assist that number of people or even the smallest fraction of them? We have a population of some 47,000 persons, and our health care, education and other social systems remain fragile and could never withstand an influx of refugees. This would be a risk to our very own livelihood,” he had said.
He was interviewed in the same show on Thursday prior to Mitchell and expressed a similar determination to crack down on illegal migration.
“I want to stress this. If we catch anyone harbouring illegals, it could be my mommy, she’s going up. We cannot tolerate this. We’re catching the sloops so my Haitian brothers and sisters should stress to them don’t waste your money we’re sending you back.”
Turks and Caicos, this year passed a law, doubling fines and prison times for individuals harbouring illegal migrants.
Former Bahamian Cabinet minister defends record amid ongoing police investigation
By Shanieka Smith
#TheBahamas, November 25, 2022 – Former Youth, Sports and Culture Minister, Lanisha Rolle is reportedly currently under investigation due to several allegations that came up during her tenure; she however knows nothing of this alleged criminal investigation.
After the minister resigned – unceremoniously – in February 2021 with little explanation, the ministry was locked down by the Prime Minister for an audit of the National Sports Authority, which fell under her ministry.
Auditor General Terrance Bastin revealed that unauthorised contracts had been issued, some of which were later forwarded to the NSA for payment. Three cheques to contractors were also found, which were paid to individuals and then collected by a senior ministry official.
Despite the allegations, Rolle said she upheld cabinet standards and good governance during her tenure. She added that a minister is not always aware of “everything in a ministry at any given time.”
Rolle said she has not yet been approached by the RBPF regarding the audit findings. Having served as a member of the Police Force for 11 years herself, Rolle told a crush of media on Wednesday (November 23) that she continues to trust that they will follow the legal process and in due time, the truth of her innocence will be revealed.
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