The Regulatory Authority of Bermuda is inviting comments on the proposed acquisition of control of CellOne and KeyTech by US telecommunications company Atlantic Tele-Network (ATN).

Interested parties who wish to submit comments and observations on the proposed transaction have until February 12 to send responses to the authority.

In a series of related transactions, ATN is seeking to become the majority shareholder of KeyTech Limited, and its subsidiaries, including Cable Co and Logic (which includes the merged Bermuda CableVision).

KeyTech currently has a non-controlling interest in CellOne, the mobile services provider. Last October it signed an agreement to buy ATN’s shareholding in CellOne for $42 million, plus KeyTech shares. KeyTech would become the sole shareholder of CellOne on completion of the deal.

ATN is a trading company that invests in the communications and renewable-energy industries. It is based in Massachusetts and has a connection with Bermuda that stretches back to 1998 when it was the primary investor in CellOne, which was merged with KeyTech as an affiliate in 2011.

ATN is listed on the Nasdaq stock exchange and has a market capitalisation of $1.2 billion.

Among ATN’s subsidiaries is Commnet, which provides telecommunications to much of the central and western US states. ATN also has telecoms subsidiaries in the US Virgin Islands, Aruba, and Guyana.

If the proposed transaction gains all the necessary regulatory approvals, ATN will become the majority shareholder (51 per cent) of KeyTech.

Last October, KeyTech shareholders voted in favour of the deal.

Comments can be sent to the Regulatory Authority of Bermuda via e-mail to kmasters@rab.bm, or by post or hand to Kyle Masters, c/o The Regulatory Authority, Cumberland House, 3 Victoria Street, Hamilton, HM 11.