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PM pledges to reacquire majority control in BTC

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

Source:
Date:
Updated:
TheBahamasInvestor.com
Thursday, August 2, 2012
Thursday, August 2, 2012

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.”

Addressing the Regular Session of the Permanent Council of the Organization of American States, Minister of Foreign Affairs and Immigration Fred Mitchell said The Bahamas will "plot the process of continued reform of the electoral process."

Triple jumper Leevan Sands talks about his hopes for London 2012. Watch an interview with Sands here.

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