CARICOM Com­pe­ti­tion Comms­sion state­ment on the Cable and Wire­less Com­mu­ni­ca­tions Plc (CWC) agree­ment to ac­quire Colum­bus In­ter­na­tional Inc. (Colum­bus)

The Star (St. Lucia) - - LOCAL -

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


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