US Regulator approves merger

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A further landmark was achieved last week in the progress towards a merged Cable Bahamas/Systems Resource Group Limited (SRG) when the Federal Communications Commission (FCC) in the United States approved the application for a change in control of SRG with respect to its FCC authorised section 214 License. This prerequisite was necessary to allow the merged company to continue to provide international telecommunications services into and from the US as a global facilities-based provider. This comes on the back of the approval last month of URCA, The Bahamas’ regulator for the communications sector, for SRG to merge with Cable Bahamas and represents a major step forward in allowing CBL and SRG to complete their sale and purchase agreement (SPA) to form a merged company.