KeyTech shareholders today voted in favour of a deal which will result in US telecoms firm Atlantic Tele-Network (ATN) taking a controlling interest in the firm.

“At a special general meeting held this morning, we are pleased that shareholders overwhelmingly voted in favour of exchanging a 51 per cent interest in KeyTech for ATN’s shares in CellOne and approximately $42 million in cash,” Lloyd Fray, chief executive officer of KeyTech, said in a statement.

“We are waiting for approval from the Bermuda and Cayman regulators, Federal Communications Commission as well as the consent of the Bermuda Stock Exchange on certain transaction matters.

“Once complete, the transaction will bring together CellOne’s premier mobile services and network with Logic’s (CableVision) brand for broadband internet, telephone and video services.”