Airtel-Vodafone has pulled out of merger talks with JT Global, the BBC reports, citing comments made by the former’s chief executive, Ian Campbell. Commenting on the matter, Mr Campbell said: ‘We have disengaged from merger discussions given the lengthy delay in reaching a conclusive closure … This now ends a period of uncertainty for all of our customers and staff and the company will be continuing with significant investment in our Channel Islands infrastructure.’
Despite the collapse of the deal, JT Global has said it is still ‘interested’ in negotiations with Airtel-Vodafone, according to a separate report regarding the matter by the BBC, with a spokesperson for JT Global noting: ‘JT remains interested in Airtel’s assets, particularly those in Guernsey, and remains open to further discussions if and when the opportunity arises.’
As previously reported by TeleGeography’s CommsUpdate, in September 2015 the Channel Islands Competition and Regulatory Authorities (CICRA) confirmed it had received an application for the merger of JT Global and Airtel-Vodafone. Three months prior to that the two companies had announced they were in initial talks to merge their operations across the Bailiwicks in a deal which would see Airtel take a strategic 25% minority interest in JT, with the States of Jersey retaining majority control.