TSTT optimistic for ICT in TT

The SPA, which is subject to the receipt of all regulatory approvals, was announced at a joint press conference, and includes all of Massy Communications’ fibre to the home and telecommunications infrastructure relating to both its Enterprise and Consumer networks, all existing Enterprise and Retail customers and the entire operational and business support systems.

TSTT CEO Dr Ronald Walcott stated the agreement marked a watershed moment for TSTT as it would accelerate the roll-out of TSTT’s $3.8 billion, five-year strategic plan that would see the company transform from a traditional 20th Century telecoms provider into an agile, broadband communications company. This would, in turn, positively and significantly impact the country as a whole because, he noted, “ICT development is a precursor and catalyst for economic growth, national development and diversification.”

Endorsing this sentiment, Massy Communications CEO Brian Jahra assured, “The country is going to be well served by this initiative.”

Executive Chairman of Massy Technologies Ltd, Fenrick Reid explained that given the competitive landscape for high speed broadband and TV services in Trinidad, the high capital costs of deploying fibre optic networks, and the issues related to multiple players all laying new cable along the same streets and neighbourhoods, Massy and TSTT embarked on a relationship initially to share some of their fibre assets and avoid wasteful duplication, but ultimately realised that selling to TSTT made the most sense for everyone.

“We are very confident that by doing this, the business will continue to grow, and grow significantly islandwide,” he said.

TSTT Chairman Emile Elias said TSTT was very excited about the Share Purchase Agreement because there were natural synergies between the two parties which he viewed as two homegrown companies competing against large global competitors.

• Outlining the synergies and key benefits, Elias said the acquisition would:

• bring instant access to an additional 34,000 homes in Diego Martin, Port-of-Spain, Trincity, Arima and San Fernando where Massy had laid fibre but TSTT had not

• save the country some US$20 million in foreign exchange expenditure on fibre that TSTT no longer needed to roll out

• add an entertainment customer base of about 5,500

• provide TSTT with a substantial and valuable business (enterprise) customer base

The fibre to the home network strengthens the delivery of services by bringing this fast, stable and resilient infrastructure closer to more homes and businesses so they can enjoy greatly enhanced voice, Internet and entertainment services.

Dr Walcott congratulated the Massy Communications Team for the significant investment and work that was put into growing Massy Communications into the robust business it is today. “We looked at the Massy operations and we are quite pleased with the efficient way the business has been run. I don’t expect we will be making any fundamental changes in the short term to what is an operating model that works” he said.

Reid explained that Massy Communications’ residential and SME customers will continue to receive the same services at the same rate, including high speed fibre internet and IPTV services; dedicated internet/IP transit; clear channel domestic/metro Ethernet and international private lines; and international wholesale termination and enterprise voice solutions. All existing and new subscribers will also enjoy the benefit of using their Massy Cards to earn Massy points when they pay their bills or to redeem Massy points to pay their bills.

As an additional benefit, existing Massy Communications residential and SME customers will eventually have access to services only offered by TSTT such as security solutions and Medi alert to monitor loved ones in the event of a medical emergency.