The government in a move that will cause little surprise, will today formally announce the end of the current Bahamas Telecommunications Company (BTC) privatisation process and reject Blue Telecommunications’ bid for a 49 per centstake in the firm,
Lindbergh Smith, Blue Telecommunications’ president, said the Tenders Commission had delivered its findings in a letter to his group, which said they were no longer interested in negotiating with it.
However, James Smith, minister of state for finance, indicated that the government might start the privatisation process anew, with a new process and bidders. He said, “In my mind, BTC cannot exist as a status quo. It is losing value to the competition, some of which is illegal, and to go forward it has to invest in nw equipment, training and improved managerial capability.”
Source: The Tribune
