FTC still investigating LIME/Flow deal
The Fair Trading Commission (FTC) is yet to deliver a verdict as it continues investigations into the proposed merger of telecoms companies Cable & Wireless Communications (CWC) and Columbus International Inc.
The deadline for submission of comments on the deal passed two weeks ago, but there has been no word on when the regulatory agency to hand down a decision.
When contacted today, the FTC said “investigations are still ongoing” and could not say how long those investigations were expected to take.
On November 6, officials of CWC, which operates here as LIME, announced that it agreed to acquire Cable TV and internet provider Columbus International Inc, the company which operates here as Flow in a deal worth just over US$3 billion.
Later that month, the FTC issued a statement calling on everyone with an interest in the matter to submit comments on the merits and demerits of the proposed merger up to December 15.
All service providers, businesses, representatives of consumer groups, non-governmental organizations, residential consumers and all other interested parties were invited to submit their comments as the FTC assessed the merger transaction in accordance with Section 20(7) of the Fair Competition Act.