LIME announces a move to buy indigenous Islandcom

Providenciales, 26 Feb 2015 – LIME today announced that it will buy Islandcom.

“LIME Turks and Caicos is acquiring the assets of Islandcom. When I talk about assets it’s the networks, the licenses, the spectrum and the subscribers. So whilst we have agreed to buy the assets this acquisition needs regulatory approval.”

The Telecommunications Commission will have to approve the application for the sale but CEO of LIME’s Northern Caribbean Cluster, Jan Remmelg said that he does not know how long the process will take and he feels confident the acquisition will be approved. Together LIME and Islandcom still would not lead in the mobile market in terms of user numbers, but Remmelg said he still interprets a successful acquisition as giving LIME leadership in mobile telecommunications.
“Being able to, more today as well with the importance of mobile data, having best in class mobile data network is an important element. But, now we are talking also primarily about networks, all of the different propositions for both, for prepaid consumers that is a part of mobile leadership to be able to have the best value proposition and plans in the market.”

Superfast and LTE combined is an exciting prospect for the LIME executives who told Magnetic Media negotiations for the buy intensified in recent months and said in that press conference today held at LIME’s head office on Leeward Highway in Providenciales, that the acquisition will mean having Islandcom’s network, licenses, spectrum and customers.

“We are buying the assets of Islandcom, we are not buying the staff and other things, we are not buying the company itself, we are buying the assets. LIME is always sensitive about the labour market and the job opportunities so we will work very closely with Islandcom and the staff in Islandcom and I am pretty sure there will be opportunities.”

The LTE license held by Islandcom is what made the third mobile player to enter the TCI market so attractive to LIME. No figure on how much LIME will pay to acquire Islandcom was disclosed.

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