The boss of telecoms giants Cable & Wireless is to seek an urgent meeting with Government after it blocked a buy-out.

CEO Eddie Saints wants to meet Telecommunications Minister Michael Scott following an annoucement that Government opposes the proposed buy-out of KeyTech by C&W.

"We have not had the opportunity to speak with Minister Scott. The Minister requires a deeper understanding of our offering and we will seek a meeting with him to clarify our position as soon as possible," said Mr. Saints.

He said the company believes Government's stance is a major setback to the company's $205 million offer to buy KeyTech .

"We have been working with the Ministry along with the other carriers for months on the telecommunications market review and are supportive of the measures being designed to protect consumers against monopolies," added Mr Saints.

He said the proposed merger would not be detrimental to the telecommunications market and rejected the view the acquisition of KeyTech would create a virtual monopoly other service providers would find impossible to compete with.

Mr. Saints said C&W recently conducted an independent survey to understand consumers' experiences and expectations of the Island's telecommunications services.

"We know an overwhelming number of Bermudians want more investment to enhance telecommunications services they have today," said Mr. Saints.

But Digicel's Regional CEO responsible for Bermuda, JD Buckley, fully agrees with Government. He said: "As the Minister stated, should Cable & Wireless be successful in its acquisition of the various Bermudian telecommunication companies held together in KeyTech Limited, Bermuda would be returned to a monopolistic scenario.

"Many of the industry's competitors, especially the smaller ones, would be unable to compete. In effect, Bermuda would be set back 20 years and ultimately the consumer will suffer through lack of choice, service and price competitiveness."

"And as I originally stated, the people of Bermuda deserve a better future."

Mr. Saints said C&W has supported the need for Bermuda's telecommunications services to develop in line with other competing jurisdictions to benefit consumers and enterprise.

"We are fully supportive of a regulatory framework which encourages investment, and protects the consumer."

"Our vision for a combined KeyTech and Cable & Wireless is to bring more affordable services for consumers and more solutions for business and we look forward to presenting this vision over the next few weeks."