Friday 21st November 2014 – Port of Spain, Trinidad
Digicel today publicly called on the Telecommunications Authority of
Trinidad and Tobago (TATT) to hold firm and withstand the severe pressure being
applied by UK based Cable
and Wireless Communications (CWC) and Columbus International Inc. (Columbus) to
rapidly approve the proposed acquisition of Columbus by CWC.
Under the concessions granted to Columbus in Trinidad, CWC/Columbus are
obliged to seek regulatory approval from TATT to allow the change of control of
Columbus’ operations in Trinidad and Tobago to CWC. TATT is obliged to
consider the application and may insist on certain conditions being applied to
the proposed transaction before the change of control is approved in Trinidad and Tobago.
Digicel notes that CWC and Columbus have embarked on a strategy of
seeking to railroad through this acquisition by seeking to ‘put a gun to the
heads’ of regulators right across the Caribbean
region. CWC and Columbus seek to do this by artificially setting
purported dates for termination of their share purchase agreement. This
deliberate ploy is designed to seek to avoid or curtail proper regulatory
consideration of the proposed transaction and the undoubted impact that it will
have on the telecommunications industry right across the region.
Digicel notes that the situation is even more serious in Trinidad and Tobago
considering the fact that CWC already owns 49% of TSTT. Digicel regards
this peremptory setting of demands by CWC/Columbus as being wholly
inappropriate and highly irregular and is calling upon TATT to reject such
demands and to retain control over its own processes, procedures and mandate.
The simple fact is that CWC and Columbus
can extend or amend these dates without any impediment.
CEO of Digicel Trinidad and Tobago,
John Delves, comments; ‘It is not for CWC or Columbus to tell TATT or any other
Regulatory body how to do their job or the period of time that they are allowed
to do it in. These attempts to force their will on what is a hugely
significant regulatory process must be resisted and rejected by TATT.
This application to allow the acquisition of Columbus
by CWC needs to be subjected to a rigorous review by TATT and a proper,
considered analysis of the effects on the telecoms market and industry in Trinidad and Tobago
must be conducted and acted upon.
He continues; “CWC and Columbus may feel that their combined might
already gives them the right to dictate to Regulators in the region what to do;
this cannot be so. We are calling on TATT to fulfil its mandate, and to
be allowed to fulfil its mandate, in the best interests of the people of Trinidad and Tobago
and not to be dictated to by CWC/Columbus. This includes dictating the time periods
allowed for the review process.”
ENDS
ABOUT DIGICEL
Digicel Group is a total communications and
entertainment provider with operations in 33 markets in the Caribbean, Central America and Asia Pacific. After 13 years of
operation, total investment to date stands at over US$5 billion worldwide. The
company is renowned for delivering best value, best service and best network.
Digicel is the lead sponsor of Caribbean,
Central American and Pacific sports teams, including the Special Olympics teams
throughout these regions. Digicel sponsors the West Indies
cricket team and is also the presenting partner of the Caribbean Premier
League. In the Pacific, Digicel is the proud sponsor of several national rugby
teams and also sponsors the Vanuatu
cricket team.
Digicel also runs a host of community-based
initiatives across its markets and has set up Digicel Foundations in Haiti, Jamaica,
Papua New Guinea and Trinidad and Tobago
which focus on educational, cultural and social development programmes.
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