Cable Bahamas gets US approval for Florida deal

8 Mar 2013

Cable Bahamas Ltd (CBL) has secured US regulatory approval for its planned acquisitions of Florida-based cablecos Summit Broadband and US Metropolitan Telecom, after security concerns delayed the matter. Earlier this week the Federal Bureau of Investigation (FBI) and the Department of Homeland Security withdrew their request to the Federal Communications Commission (FCC) to defer a decision on CBL’s takeovers, noting that: ‘Based on the information provided to the agencies by the applicant [Cable Bahamas], and analysis by the agencies of potential national security, law enforcement, and public safety issues, the agencies hereby notify the Commission that they have no objection to the application.’ CBL is also looking to take over a third operator, Marco Island Cable though that deal is yet to be green-lit by US authorities. The trio of purchases, worth a total of USD89 million, are still awaiting approval from Bahamian regulators.

Bahamas, United States, Cable Bahamas Limited (CBL, REV)