JAMAICA OBSERVER – In a clash of words telecoms company Digicel today lashed out at rivals Cable and Wireless for assertions that the company is suffering from “sour grapes” regarding the recent acquisition of Columbus Communication.
The comment “couldn’t be further from the truth as the reality is Digicel was not prepared to over-pay for the business – unlike Cable & Wireless,” the company said in a release.
Digicel added that it believe Cable and Wireless has over-paid US$1 billion in its purchase of Columbus.
“Responding to Cable & Wireless’ recent comments in the media, Digicel can confirm that it looked at Columbus Communications several months ago and that it was Digicel’s assessment that the value of Columbus Communications was no more than US$2 billion,” the release said.
Digicel said it is also calling “on all regulatory bodies throughout the Caribbean to see through the smokescreen put up by Cable & Wireless/Columbus and subject the proposed transaction to the fullest regulatory scrutiny.”
“Cable & Wireless has said that it can’t ‘talk about pricing and plans until the deals are done’ and that statement alone should set alarm bells ringing,” Digicel Group CEO Colm Delves said.