Prime Minister Perry Christie has reaffirmed the government’s commitment to regain majority control of the Bahamas Telecommunications Co (BTC).

He made the statement during a press conference July 31, 2012, in the committee room at the House of Assembly.

Cable and Wireless Corp has a 51 per cent control of the local telecommunications company; the government, 49 per cent.

The Prime Minister has appointed a negotiating team to discuss with the principals of Cable and Wireless the issue of regaining the majority stake of BTC.

Discussions are expected to commence mid-August.

In its Charter for Governance, the Christie-led Progressive Liberal Party government pledged to review and take all necessary steps with a view to renegotiating the contract with Cable and Wireless.

It also pledged to: “Develop BTC into a regional corporation with Bahamian ownership and widespread with a view to competition, expansion, profit generation and to activate sale of shares to Bahamians.”