One Caribbean Me­dia Lim­it­ed (OCM) has en­tered in­to an agree­ment to pur­chase a 51 per cent stake in Green Dot Lim­it­ed, providers of dig­i­tal ca­ble tv and broad­band in­ter­net ser­vices.

In an an­nounce­ment post­ed on the T&T Stock Ex­change, Group CEO Dawn Thomas said the in­vest­ment is sup­port­ive of OCM's di­ver­si­fi­ca­tion strat­e­gy and "presents new op­por­tu­ni­ties for the part­ner­ship."

She added: "OCM wish­es to em­pha­sise that the change will see key man­age­ment be­ing re­tained so that cus­tomers of the ca­ble TV and broad­band in­ter­net can look for­ward to the en­joy­ment of their ser­vices with­out in­ter­rup­tion.

"The trans­ac­tion is sub­ject to reg­u­la­to­ry ap­proval, but it is not ex­pect­ed that this will give rise to any dif­fi­cul­ty or cause un­due de­lay in com­plet­ing the trans­ac­tion.

Green Dot, which has been op­er­at­ing in T&T for more than ten years and re­cent­ly ex­pand­ed in Suri­name and Grena­da. OCM is a pub­licly owned me­dia com­pa­ny list­ed on the stock ex­changes and T&T and Bar­ba­dos.