CBL completes Metro takeover

21 Aug 2013

Cable Bahamas Ltd (CBL) has completed its acquisition of Florida-based US Metropolitan Telecom (US Metro), one of four transactions agreed by the Bahamian cableco, the Bahamas Weekly reports. CBL was given a green light by US regulators in March 2013 for planned purchases of Marco Island Cable, NuVu, US Metro and Summit Broadband, but has experienced delays in receiving the approval of Bahamian authorities. The Bahamian group has incorporated a new subsidiary, Summit Vista Inc, in Florida to hold the shares in its acquired companies.

Anthony Butler, president and CEO of CBL commented on the transaction: ‘The completion of this acquisition is a significant milestone in our drive to grow and expand our footprint. US Metro’s regional fibre optic network dovetails nicely into our own national and international system to create a mesh of connectivity across the major centres of the Bahamas and the metropolitan markets of central and southwest Florida.’

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