International telecoms firm Digicel has completed the takeover of the Bermuda Telephone Company (BTC), it was confirmed yesterday.

Digicel Bermuda CEO Robin Seale said: “This is an exciting time for Digicel Bermuda and BTC as together we are better positioned to serve our customers across Bermuda.”

He added: “With the acquisition now complete, we are even further committed to delivering the best value, service and network on the island while expanding our suite of products and services to offer a larger portfolio to our customers.

“Digicel is already heavily investing in increasing the capacity of our service and the acquisition of BTC will provide the framework to broaden that even further; growing our business, creating more jobs and investing in the future of Bermuda’s communications industry.”

“We look forward to working with BTC and its employees.” Digicel pledged to create more jobs and invest in performance and reliability of the BTC network if its January bid was successful.

The Regulatory Authority of Bermuda (RAVB) approved the deal last month — subject to conditions.

The RAB admitted there was a risk of a combined Digicel and BTC and rivals KeyTech, who formerly owned BTC, and its CableVision and Logic subsidiaries, together with cellphone firm CellOne as an affiliate, forming a powerful duopoly and lead to a lack of competition on prices and market share. But the RAB said that was unlikely, given Digicel’s intention to invest in upgrades and extensions.

Another major theme of the RAB conditions was the safeguarding of access to wholesale networks and services at a fair price for other companies with communications operating licences.

And a key requirement was for Digicel, for the present, to keep its financial and product accounting information systems separate from all other Digicel affiliates.

The RAB also said that BTC had to be maintained as “a viable commercial entity” and put in place safeguards to ensure it was not asset-stripped or transferred overseas.

BTC was bought from KeyTech less than a year ago by the Barrie Holdings group of investors for $30 million.

Barrie Holdings executive chairman Roy Graydon, who came from a telecoms background in Canada, said the group approached KeyTech after they learnt that the firm wanted to buy CableVision, but that the purchase, while still owning BTC, would be difficult.