KeyTech expresses concern over RA’s regulatory actions

29 May 2013

Bermuda-based KeyTech Holding Limited – which owns domestic service providers Bermuda Telephone Company (BTC), Logic Communications and CableCo, and also has a minority stakes in CellOne and Bermuda CableVision – is taking legal advice over the recent actions of the country’s newly formed independent watchdog, the Bermuda Regulatory Authority (RA). In a statement filed with the local bourse, local newspaper the Bermuda Sun notes that while the holding group acknowledges the need to create a level playing field in the market, it is nevertheless ‘concerned by the approach being taken by the regulator in the consultation paper, as the regulator appears to be attempting to regulate beyond the individual carrier level.’ As a result, the filing goes on to say that ‘KeyTech Limited is, accordingly, taking legal advice’.

The group’s chief executive Lloyd Fray has expressed his surprise and concern over the RA’s proposal to carry out a separate consultation process on KeyTech’s operation (as part of the ‘Obligations for Operators with Significant Market Power’, contained in the consultation), given what he terms the lack of communication with KeyTech Limited beforehand and the fact that his company is not the only Bermudan telco with multiple carrier subsidiaries.

Bermuda, Bermuda Telephone Company (BTC), One Communications