Cable Bahamas acquires SRG

21 Sep 2010

Cable Bahamas has confirmed it has exercised its USD4.243 million purchase option to acquire 100% of rival telecoms operator Systems Resource Group (SRG), parent of IndiGo Networks, according to local newspaper The Tribune. The move will position the enlarged company to compete better with the Bahamas Telecommunications Company (BTC) in the residential fixed line voice market when that sector is liberalised in the next few months. The deal is now waiting approval from communications sector regulator, the Utilities Regulatory & Competition Authority (URCA).

The deal will merge SRG’s fixed line licence with Cable Bahamas’ already-strong position in broadband internet, cable TV and data markets, giving the combined entity a triple play bundle that will enable it to go head-to-head with telecoms incumbent BTC, which itself is currently undergoing privatisation and is expected to be sold to Cable & Wireless in the near future.