Bermuda Regulatory Authority consults on impact of BTC sale

8 Aug 2014

Bermuda’s telecommunications regulator, the Regulatory Authority (RA), is seeking comment from all interested parties, concerning the possible repercussions of the takeover of Bermuda Telephone Company (BTC) by Barrie OpCo Ltd. The Royal Gazette also notes that the RA, which set a 4pm deadline on 7 August 2014 for third parties to submit their opinions, is also inviting comments on the move by KeyTech Ltd to acquire control of Bermuda CableVision Ltd. The RA’s public notice on the consultation was published on 28 July.

The paper notes that Barrie OpCo is a recently incorporated Bermuda company owned by an independent investor group with experience in telecommunications. It will purchase 100% of BTC from KeyTech. The RA notice states that comments to be considered by the Authority will be limited to whether the proposed transactions are likely to:

a. have an effect(s) on competition within Bermuda’s electronic communications sector;

have an effect(s) on the residents of Bermuda with particular interest in, but not limited to, the provision of electronic communication services in Bermuda;

c. have an effect on innovation within Bermuda’s electronic communications sector.

Bermuda, Bermuda Telephone Company (BTC), Regulatory Authority (RA)