[go jamaica] LIME expanded its regional footprint with the management takeover of the Bahamas Telecommunications Company by LIME’s parent company Cable and Wireless Communications Plc.
According to LIME, all conditions and requisite approvals to Cable and Wireless' purchase of a 51 per cent stake in the Bahamas Telecommunications Company, have been satisfied and obtained.
Consequently, Cable and Wireless announced today, it completed the transaction and has taken management control of the business.
According to the LIME release, the takeover brings LIME’s business units across the Caribbean to 14 with the company being the telecommunications provider of choice in the majority of markets where it operates.
Today’s transaction follows the February 9 signing of an agreement between Cable and Wireless and the Government of the Commonwealth of The Bahamas under which Cable and Wireless acquired the majority interest in Bahamas Telecommunications Company for US$210 million.
LIME is in the Bahamas