The Bahamas must “really be concerned” about the negative message it is sending to international investors over the Bahamas Telecommunications Company (BTC), a senior Chamber official yesterday saying developers “should never” have to factor political risk into their calculations.
Winston Rolle, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive, told Tribune Business that the Christie administration’s ambition to regain a 51 per cent majority shareholding in BTC was bucking international trends, where governments were getting out of business and utility ownership.
Emphasising that the Government’s talks with Cable & Wireless Communications (CWC) needed to conclude swiftly, whatever the outcome, Mr Rolle added that the decision to cancel the proposed $37 million initial public offering (IPO) of a 9 per cent BTC stake would also hurt Bahamian investors and the company.
Source: Neil Hartnell, The Tribune
