Sure responds to JCRA consultation on Airtel Vodafone acquisition.
Following the Jersey Competition Regulatory Authority (JCRA) announcing a consultation on Sure’s proposed acquisition of Airtel Vodafone in the Channel Islands, Alistair Beak, Sure’s Group CEO, said:
"We welcome the JCRA’s consultation on our intention to acquire Airtel Vodafone in Jersey, which is a significant step forward in the process.
"Once the public consultation concludes, and if the JCRA then approves the merger, the final remaining element to the acquisition proceeding will be securing approval from the Guernsey authorities.
"Last June the Committee for Economic Development published a policy letter which recommended that a temporary exemption be applied to the approval process, given the strategic benefits of the transaction and the legally binding commitments we were making.
"We firmly believe that the reasons for that approach remain very much intact, and in fact have been strengthened by our agreement with the Channel Islands Coop, announced last week, to facilitate Coop Mobile’s entry to the market as a virtual operator. This, alongside the other legally binding commitments, provides further protection for consumers. In short, the strategic benefits of the acquisition remain but the impact on competition has been significantly reduced.
"On the completion of the transaction Sure will embark on a very significant investment of up to £48m in the islands’ mobile networks, bringing the very best 5G mobile technology to give customers faster data speeds, wider coverage, better value for money and a more resilient and secure mobile network.
"Today’s consultation is important progress for the proposed merger, and we eagerly await the next steps in both islands as to whether this landmark evolution in mobile connectivity can go ahead."
Issued by Dan Gallienne, Orchard PR, 01481 251251, dan@orchardpr.com