Second attempt to freeze competition law for deal
Guernsey's Committee for Economic Development has proposed suspending the island's competition law for a second time to allow telecommunications company Sure to acquire Airtel-Vodafone. This move would bypass the usual requirement for regulatory approval for acquisitions involving companies with turnovers exceeding £2 million, which is designed to prevent monopolistic practices.
Last year, the committee withdrew a similar proposal but did not provide reasons for the decision. Now, the committee is revisiting the idea, suggesting that the acquisition would benefit consumers by leading to significant investment in the island's telecommunications infrastructure.
Sure has stated that if the acquisition is approved, it would immediately invest up to £35 million to develop a 5G network in Guernsey, which would be the island’s first. This investment is expected to enhance the island’s digital connectivity, supporting both personal and economic activities.
Alistair Beak, CEO of Sure Group, emphasized the importance of high-speed, reliable networks in today’s digital age and expressed optimism that the proposed acquisition would gain the approval of Guernsey’s deputies. He highlighted that the acquisition would not only improve telecommunications services but also contribute to the overall economic growth of the island.
The acquisition would ensure the continuation of three operators in the local mobile market, potentially maintaining competitive balance while laying the groundwork for Guernsey's digital future.
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