Symbiote gets mobile spectrum licence in Jamaica
The Cabinet has now given approval for Symbiote Investments Limited to be granted a mobile spectrum licence.
It's the third such licence to be granted in Jamaica.
The Technology Ministry says Symbiote will pay US$20,833,332 (J$2.6 billion) for the spectrum on an agreed schedule.
One year ago, Symbiote was granted a mobile carrier licence and now with the approval of its spectrum licence, is expected to increase competition in a market dominated by two other entities, Cable and Wireless Communications and Digicel.
Technology Minister Andrew Wheatley says the new entry of the Symbiote will translate into more choices and affordable packages for the public.
"It is a win-win for the customer. In light of the recent developments in the industry, we once again welcome tripartite competition to the mobile telecoms sector”, Wheatley said.
He said Symbiote is expected to promote development and improve the competitiveness of the sector, which will in turn empower the consumer and promote greater innovation.