Digicel’s bid to buy Bermuda Telephone Company (BTC) has been granted approval by the Island’s regulatory watchdog.

The Regulatory Authority of Bermuda (RAB) this afternoon said it had granted written approval for the buy out.

In a statement, it said: “After a thorough, nearly three-month long investigation which included a request for public comment, the merger was approved subject to certain conditions designed to promote innovation and competition in the Bermuda electronic communications market.”

Robert Watson, the RAB’s chief executive said: “We believe that the new, merged company will provide more robust competition in the electronic communications sector, to the benefit of the Bermuda consumer.”

The full decision is expected to be made available on the RAB’s website at www.rab.bm.