New bills generated in November
WestStar cable television customers
in the Cayman Islands will no longer receive their monthly bills for cable,
Internet and telephone service on one statement, according to an announcement
sent out by the company Wednesday.
The change comes as a result of
WestStar selling off its remaining shares in WestTel to a Bermudian company
earlier this year.
That company, KeyTech, will now
take over the sole operation of the internet and telephone services provided by
WestTel and will change its name to Logic Communications as of 1 October.
Changes to the billing will be
implemented on 1 November, according to WestStar.
“From that date you will receive,
and be required to pay, two entirely separate bills; to WestStar TV for cable
service and to Logic for internet and phone service,” read a statement from
WestStar sent to customers on Wednesday.
WestStar officials said the change
should have no impact on customers’ service. They ask customers to pay
remaining WestStar-WestTel bills in full at the end of October, if possible.
From 1 November, two separate payments will be required.
The locally based sister company of
telecommunications provider WestTel Ltd agreed in May to transfer its remaining
shares in the telecommunications company to the Bermudian firm, pending
approval by the Information, Communication and Technology Authority.
According to the agreement,
WestStar TV Limited transferred its 33 per cent shareholding to Bermuda-based
KeyTech Limited. KeyTech already owned 67 per cent of the shares in WestTel.
KeyTech now holds all of WestTel’s shares.
A general commercial notice posted
in the Cayman Islands gazette in May noted: “As part of this application,
WestTel also requested an amendment to…its ICT licence in order to delete the
requirement that at least 25 per cent of its equity be held by Caymanians.”
Companies governed under the
Information, Communication and Technology Authority Law in the Cayman Islands
do not have to comply with the Local Companies (Control) Law, which requires 60
per cent Caymanian ownership in any local business.
WestStar TV representatives stated
at the time that there would be no immediate impact to WestTel’s telephone and
internet customers in the Cayman Islands.
The shares transfer occurred
because the Bermudian company wishes to expand WestTel’s fibre-optic cable
network in Cayman. The cost of that expansion is being borne entirely by
“WestTel’s infrastructure plan
requires a large capital injection, which majority shareholder KeyTech Limited
is willing to provide,” WestStar’s press release stated. “As a result, KeyTech
and WestStar have been in discussions to ensure KeyTech’s shareholding in
WestTel reflects this investment.”
Neither company is publicly traded,
so the price of the shares transaction was not divulged.