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.
