Digicel has completed its acquisition of Bermuda Telephone Company (BTC). But the telecommunications company is keeping the details of the deal, including how much it paid for BTC, close to its chest.

In a statement issued on Tuesday, Digicel Bermuda CEO Robin Seale said the buyout would put the company in a better position to serve its customers.

“With the acquisition now complete, we are even further committed to delivering the best value, service and network on the island while expanding our suite of products and services to offer a larger portfolio to our customers,” he said.

“Digicel is already heavily investing in increasing the capacity of our service and the acquisition of BTC will provide the framework to broaden that even further; growing our business, creating more jobs and investing in the future of Bermuda’s communications industry.”

Digicel had announced its intention to acquire the local telephone company back in January, only six months after Canadian-led Barrie Holdings bought BTC from KeyTech for US$30 million.

Chief executive officer of the Regulatory Authority of Bermuda Robert Watson promised that it would “keep a close eye on it to see there is no predatory pricing”, given that there would be two dominant players in the Bermuda telecommunications market – Digicel and KeyTech Group, which has subsidiaries CableVision Bermuda and Logic and cellphone firm CellOne as an affiliate.

“We got these assurances from Digicel and we feel they are a good company to ensure a competitive, innovative choice for the people of Bermuda,” he told the Royal Gazette.