The ongoing saga surrounding state-owned Bahamas Telecommunications Company, the nation’s largest telecom provider, and Cable & Wireless seems to be coming to a head as C&W closes in on its prize.
Both Vodafone and regional telco Digicel had been…
The ongoing saga surrounding state-owned Bahamas Telecommunications Company, the nation’s largest telecom provider, and Cable & Wireless seems to be coming to a head as C&W closes in on its prize.
Both Vodafone and regional telco Digicel had been interested in BTC, but local newspaper The Tribune claims that C&W is on the verge of signing a ‘Heads of Terms’ document, which would set out the broad parameters of an agreement for BTC’s privatisation.
The privatisation of BTC has been an ongoing story since 1998. Ten years after the government first flagged up a desire to privatise its telecom company, it confirmed that it was selling 51% of the company and put the offer out to tender. There were a number of bidders and the proposals submitted by a consortium comprising JP Morgan and Vodafone, as well as one from Atlantic Tele-Network/CFAL were rejected earlier this year. However, if these reports are to be believed, the deal on the table from C&W could see this process finally put to bed.
