Cable & Wireless Communications to buy Bahamas mobile phone firm

Cable & Wireless Communications has agreed to buy a majority stake in the Bahamas' state-owned mobile operator for $210 million (£134.6 million).

The firm will buy 51% of Bahamas Telecommunications Company under the terms of a deal expected to complete in the first quarter of next year.

BTC, which also provides fixed-line and broadband services, will retain a monopoly on mobile operations in the islands for at least three years after privatisation, CWC said.

CWC chief executive Tony Rice said: "BTC represents a great opportunity to expand our business in a region where we have competitive strength and management capability."

BTC has around 392,000 mobile customers, 123,000 fixed-line and 19,000 broadband subscribers, generating revenue of $361 million last year.