Cable Bahamas Ltd (CBL) could lose USD8 million if the Bahaman government refuses to approve the cableco’s acquisitions of three Florida-based telcos, local news portal Tribune 242 reports. The cableco has so far spent USD1.92 million in costs related to the triple acquisition, valued at USD89 million, and has paid non-refundable deposits totalling USD5.93 million. CBL announced plans to acquire Marco Island Cable, NuVu and Summit Broadband in late 2012 and received approval from US regulators in March this year. Despite the progress, however, the takeovers have been delayed by the Bahaman government dragging its feet over giving the deals the green light. Indeed, the cabinet is yet to comment on any concerns, if any, it has over the acquisitions and remains tight-lipped regarding the cause for the prolonged approval process.
Have feedback, corrections, or story ideas? Send them to email@example.com.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors