February 27, 2011

Cable & Wireless selling Bermuda business

From Caribbean360:

HAMILTON, Bermuda, Thursday February 24, 2011 - Cable & Wireless Communications (CWC) is selling its operations in Bermuda to a family-run Canadian cable and telecommunications company in a US$70 million deal.

Once the sale to The Braggs Group gets government and regulatory approvals, it's expected to be finalised by the end of next month, at which time the new owners say they'll keep the same employees and local management.

"In fact, we expect to increase local Bermudian employment in the near future," it said in a statement yesterday.

News of the sale comes two weeks after CWC reported that its Caribbean operations continue to suffer, at the same that it announced it had signed the final agreement to acquire majority control of Bahamas Telecommunications Company Ltd (BTC).

AddThis Social Bookmark Button
Archive link for this entry: Cable & Wireless selling Bermuda business |

February 10, 2011


Businesses across the Caribbean and Central America to benefit from the region's newest ICT powerhouse

Tuesday 8 February 2011 - Kingston, Jamaica:
Digicel, the Bigger, Better Network has taken a controlling stake in Netxar Technologies, the leading systems integrator in the Caribbean region, it was announced today.

Effective immediately, the two companies will work together to achieve even greater business success and market share as the region's newest Information and Communications Technology (ICT) powerhouse.

Netxar has built a fantastic track record and, as well as winning numerous regional and global awards, is also the proud holder of the Gold Certification, Master Unified Communication and Master Managed Service Partner and is a member of Cisco's elite 1% partners out of 64,000+ partners worldwide - vital in securing and serving top corporate and public sector customers. It is based in Puerto Rico and has operations in the Dominican Republic, Jamaica and Trinidad and Tobago.

Digicel meanwhile has been offering ICT solutions to businesses across the region since 2007. The company's promise of best network, best value and best service has seen Caribbean companies not only benefiting from greater efficiencies through more integrated communications, but also being able to reduce their ICT spend by between 30% and 40% on average.

President and CEO of Netxar, Frank Santiago, comments; "For years, corporate and public sector customers have been searching for a business partner who can deliver both world class telecommunication services and ICT solutions. Now, customers will benefit from technology solutions that leverage their IT framework as a competitive advantage while reducing operational costs and increasing productivity.

He continues; "The support and involvement of Digicel which, in ten short years, has had such a positive impact on the Caribbean communications space will see us delivering even better solutions to an even broader range of corporate customers."

Kevin White, COO of Digicel Group, comments; "Since we started focusing on delivering ICT solutions to Caribbean corporate customers in 2007, we have made big inroads and are proud to serve the Caribbean's biggest business names. In Jamaica for instance, Digicel serves over 70% of the corporate market.

He adds; "This will see us increasing our ICT presence across the Caribbean and Central America and offering customers a broader and deeper product portfolio backed by Digicel's award-winning customer service. Our customers are set to benefit from being with the region's newest ICT powerhouse."

AddThis Social Bookmark Button

Cable & Wireless Caribbean operations still troubled

From Caribbean360:

LONDON, United Kingdom, Thursday February 10, 2011 - Telecommunications giant Cable & Wireless says its Caribbean operations continue to suffer amid adverse economic conditions and earnings won't increase in the second half of the financial year.

In a third quarter statement issued yesterday, Cable & Wireless Communications Plc (CWC) said it expected earnings by the end of the fiscal year in March to remain flat at around US$115 million.

"The one region that remains very difficult is the Caribbean where we see the market continue to be challenging with tourist spend and, hence, consumer and business disposable income significantly below historic levels," said CWC Chief Executive Officer Tony Rice.

AddThis Social Bookmark Button
March 2011
February 2011
January 2011
October 2010
April 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
December 2008
November 2008
October 2008
September 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
October 2006
May 2006
December 2005
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005
July 2004
June 2004
May 2004
April 2004
March 2004
February 2004
January 2004
December 2003
November 2003