Cable Bahamas 100% Bahamian

29 Jan 2010

Cable Bahamas has announced that it is now a 100% Bahamian owned company. Following the approval of the Bahamian government, the company said it has repurchased all of the 5,954.600 shares previously held by Columbus Communications (CCL) for USD80 million. The transaction, which was first announced in the summer of 2009, was funded through a combination of the company’s USD95 million senior credit facility and the issuance of USD40 million in new preferred shares.

According to TeleGeography’s GlobalComms database, Cable Bahamas claims more than 78,000 subscribers on its cable network, 44,000 broadband internet subscribers and over 2,000 customers utilising international and domestic private line data circuits, IP transit and telecom/data co-location.

Bahamas, Cable Bahamas Limited (CBL, REV), Columbus Communications (Columbus International)