Telecommunications service provider LIME has increased the number of regional businesses to 14 with the management takeover of the Bahamas Telecommunications Company by LIME’s parent company, Cable and Wireless Communications Plc.
The transaction was completed last week after all conditions and requisite approvals for Cable and Wireless’ purchase of 51 per cent of the Bahamas firm were satisfied and obtained.
The acquisition followed a 9 February agreement between Cable and Wireless and the Bahamian government that set the purchase price at US$210 million.
Geoff Houston was appointed CEO of the Bahamas Telecom.
Mr. Houston has worked in the industry for 24 years in the and served for 19 years as CEO in the Seychelles, Channel Islands, Isle of Man and Jamaica.
David Kelham will become chief financial officer-designate. Mr. Kelham has spent 12 years working in telecoms-related companies and has 20 years’ experience as a financial director or CFO.
David Shaw, CEO of LIME, Cable and Wireless’ Caribbean business said: “We wish to thank the Government of The Bahamas, the Privatisation Committee and the people of The Bahamas for giving us this opportunity. Most importantly, we want to welcome BTC staff to the [Cable and Wireless] family. They have done an excellent job in difficult circumstances over the past few months and remain the lifeblood of this business.”