Colombus to acquire TeleBarbados

Barbadian firm Columbus International, a subsidiary of Canadian-owned Columbus Communications Group, has entered into a definitive agreement to acquire compatriot telco TeleBarbados, the former announced in a release without reporting the purchase price. The acquisition marks Colombus' entry into Barbados' telecom market. With a US$225mn credit, the company expects to invest in infrastructure in the country over the next 2-3 years, offering consumers a range of telecom and IT services, including triple play - broadband, digital landline telephone and IP-based video services - under the brand name FLOW, according to the statement. "In addition, Columbus will be launching a series of corporate data, connectivity and IT services under the brand Columbus Business Solutions," Colombus CEO Brendan Paddick commented in the release. TeleBarbados owns and operates a fiber-rich telecom network in Barbados and provides advanced voice and data services on both a wireless and wired basis. Columbus International also operates in Trinidad, Jamaica, Grenada and Curacao.