URCA instructed to allocate wireless licence to CBL

31 May 2016

The Bahamian government has instructed telecoms watchdog the Utilities Regulation and Competition Authority (URCA) to proceed with the allocation of the country’s second wireless licence to Cable Bahamas Ltd (CBL), the Bahamas Weekly reports. The announcement follows the completion of certain conditions of the licence, including the establishment of a new entity – ‘NewCo’ – to utilise the licence, which will be 49%-owned by CBL and 51%-owned by Bahamian shareholders through a new holding company, ‘HoldingCo’. Commenting on the decision, and the company’s plans for launching services, CBL’s president, Anthony Butler noted that CBL would publish a full timeline for its network rollout and activation shortly. The official added: ‘We understand the market and the expectations of Bahamians. The mobile service needs to be reliable, affordable and fully support applications that customers want to use, and that is what Bahamians can look forward to from us.’