CARICOM Competition Commssion statement on the Cable and Wireless Communications Plc (CWC) agreement to acquire Columbus International Inc. (Columbus)
The CARICOM Competition Commission (the Commission) as part of its monitoring of business activity in the CSME took note of the announced transaction on 6th November, 2014 by Cable and Wireless Communications Plc and Columbus International Inc. and began conducting an internal preliminary assessment of the transaction with all available public information.
The Commission will make a further announcement at the conclusion of its internal review process on its strategy and plans for addressing the announced transaction.
The Commission’s mandate is to implement the key objectives of Article 169 on Community Competition Policy namely: (a) the promotion and maintenance of competition and enhancement of economic efficiency; (b) prohibition of anti-competitive conduct; (c) the promotion of consumer welfare and protection of consumer interests.
The Commission is therefore a strong advocate for efficiency in the working of national and regional markets in the CSME with the benefits to be shared among all stakeholders in an equitable manner.
The Commission wishes to state that regardless of jurisdiction (national or regional) it is vital that the governments of member states and regulators ensure the principles of competition are considered in the review process for making a determination on this transaction. It is vital that the impact on competition of the proposed transaction be considered in a thorough manner, and that any determination made is designed with competition enhancing outcomes in mind.
The Commission as a regulator is committed to a process that is fair and transparent in the determination of any regulatory matter where the interests of both business and consumers must be considered.
Brendan Paddick, chairman and CEO of Columbus