CellularOne’s parent acquires stake in Islandcom

16 Oct 2008

Bermuda Digital Communications (BDC), which operates in Bermuda under the brand name CellularOne, has acquired a strategic stake in Turks and Caicos-based telecoms operator Islandcom Telecommunications. According to reports in The Royal Gazette newspaper, BDC has pledged to contribute financial and strategic resources to develop the two-year old venture into a leading telecommunications player. Islandcom is Turks and Caicos’ third largest cellular operator after Cable and Wireless and Digicel. It currently serves around 1,000 customers in the British Overseas Territory, which has a population of 30,000. BDC declined to divulge the level of the equity stake taken, or the purchase price. It is understood Islandcom will use the capital injection to fund the expansion of its mobile network across the Turks and Caicos Islands and to introduce new roaming agreements for its customers.

Bermuda, Turks and Caicos Islands, One Communications