Guernsey

Regulator CICRA approves Cable and Wireless Bahrain deal

  • 25 February 2013
  • From the section Guernsey

The sale of Cable and Wireless' Monaco and Islands division to has been provisionally approved.

Regulatory body CICRA said the sale of the company's Channel Islands firms to Batelco could go ahead, as long as certain conditions were met.

Andrew Riseley, chief executive of CICRA, said a full investigation in to the proposed takeover had taken place.

Opinions on the approval are being accepted, ahead of the proposed finalisation of the deal during March.

Cable and Wireless operates landlines, mobile telephone lines and broadband connections in the Bailiwicks of Jersey and Guernsey.

Batelco - Bahrain Telecommunications Company - will have to meet conditions involving local resources and the availability of information for the deal to go ahead.

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