The prime minister of the Bahamas has reiterated his desire to re-capture the majority stake in Bahamas Telecommunications Company (BTC) from Cable & Wireless Communications (CWC).
Speaking at a conference in the US, PM Perry Christie reportedly said he…
The prime minister of the Bahamas has reiterated his desire to re-capture the majority stake in Bahamas Telecommunications Company (BTC) from Cable & Wireless Communications (CWC).
Speaking at a conference in the US, PM Perry Christie reportedly said he was mandated by the electorate to use all lawful means to re-take a majority stake in BTC. He added that he expected discussions on that to begin soon, according to local newspaper The Tribune.
BTC was 100% government-owned until April 2011, when CWC acquired a 51% stake.
Former prime minister Hubert Ingraham, who presided over the sale of BTC to CWC, reportedly described Christie’s pronouncements as “fluff”. Ingraham said he didn’t think the PM would follow through on his statements and believed that the owners of BTC didn’t think he was serious either.
BTC holds exclusivity rights over the supply of mobile services on the Bahamas islands until 2014. The telco also operates fixed-line and broadband services.
Majority owner CWC declined to comment.
