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July 27, 2005
Buyout shakes up telecommunications market
From Cayman Netnews:
The pending sale of the Caribbean arm of the international telecoms firm to another leading name in the business, Digicel has raised questions on how the different technologies and other infrastructure from both companies will affect existing customers. The announcement that Digicel was buying Cingular’s operations in five countries in the Caribbean has sent ripples throughout telecommunications market as major companies like Cable & Wireless, Digicel and Cingular compete for the mobile market.
The deal is pending approval by each regulatory body in each country including Bermuda, Anguilla, St Kitts and Nevis, Antigua and Barbuda and Dominica. The details of the deal for the Cayman Islands have yet to be submitted to the Information and Communication Technology Authority (ICTA) for approval, but it is anticipated to take a couple of weeks once it is approved.
