The Competition Commission of the Caribbean Community and Common Market (Caricom) is to investigate the USD 1.85 billion acquisition of Columbus International by Cable and Wireless Communications (CWC), reports the Trinidad Guardian. Caricom will first consult with member states to determine and agree on its jurisdiction to investigate the merger, which closed on 31 March, said the report.
The deal has sparked regulatory concerns across the Caribbean, with other entities such as the Caribbean Telecommunications Union (CTU) and the Organization of Eastern Caribbean States (OECS) also expressing reservations about its impact on competition. However, regulators in Trinidad &Tobago, Jamaica and Barbados have already approved the merger.
CWC said it was hopeful the acquisition would help to transform the company, above all when it came to delivering faster network speeds. It also announced a major rebranding exercise in markets where the necessary regulatory approvals have been obtained, changing its Lime consumer business to Flow. Columbus offers services under the Flow brand in Trinidad & Tobago, Jamaica, Barbados, Grenada and Curacao, and also serves Saint Lucia, Saint Vincent & the Grenadines and Antigua & Barbuda under the brand name Karib Cable.
