LinkBermuda says no new investment until regulatory issues are resolved

14 Jun 2012

Incumbent operator LinkBermuda (formerly Cable and Wireless Bermuda) says it is holding off on investing in any new business ventures until there is ‘regulatory certainty’ in the country’s telecoms sector. The Royal Gazette Online quotes LinkBermuda COO & CFO Miller Williams as saying that his firm is ‘disappointed’ that the long-running battle over rival Digicel Bermuda’s long-distance telephony service is being ‘played out in the press’, and that in the meantime its international telecoms and data centre services are losing out to its rival’s new pre-paid and roaming international long-distance (ILD) services. Williams says that LinkBermuda is looking for a swift resolution to the matter, but that in order to commit new investment it needs ‘regulatory certainty with a level playing field’.

On a more positive note, Williams said his firm is pleased with its current operation in Bermuda and added that he was buoyed by the government’s announcements concerning the Integrated Communications Operating Licences (ICOL) process moving forward. ‘We are not pulling back, just not moving forward. We hope to make further investments in Bermuda but at this time the Digicel situation, which affects us and [rival ILD provider TeleBermuda International] TBI especially, has been damaging,’ Williams said. Last month Bermuda’s minister of environment, planning and infrastructure strategy Marc Bean announced he was committed to issuing ICOLs no later than 31 March, allowing the island’s telecoms providers to finally be able to offer bundled services to customers.

TeleGeography’s GlobalComms Database writes that LinkBermuda was acquired by The Bragg Group, a Canadian based international conglomerate, for USD70 million in February 2011.

Bermuda, LinkBermuda