By KHRISNA VIRGIL
Tribune Staff Reporter
kvirgil@tribunemedia.net
PROVISIONS have been mutually agreed upon between Cable and Wireless and the Government to ensure that Bahamians are at all times the majority on BTC’s board of directors.
Confirming that the condition was recently signed into the deal, Franklyn Wilson, the former lead negotiator of BTC’s share take back deal, said the arrangement takes the current situation “from good to better.”
In January, Prime Minister Perry Christie announced that slightly less than two per cent of BTC had been transferred to a foundation which would benefit Bahamians.
Speaking to The Tribune, Mr Wilson said he was thrilled that the negotiations, which were from the outset thought to be impossible, now works in the best interest of Bahamians from all aspects.
“There have been added provisions that make what was a good deal better and in moving forward the majority of the Board of Directors will be citizens of the Bahamas as long as the government appoints Bahamians,” Mr Wilson said.
“CWC has agreed so that the board will be Bahamian controlled.
“When we signed, it was said that this would be the case, but now it has been signed into the agreement so it is another huge development. Not only do we have majority economic control, but we now have majority Bahamians on the board.”
Mr Wilson further pointed to changes in BTC’s position following island wide disruptions in service last week. He questioned whether the appointment of Leon Williams, former BTC CEO to board director for the government has influenced the actions of the company in launching damage control.
“You would note that the last time when there was a system failure, BTC’s position was a whole lot different from what it was last week. I think you would see this time they acted differently, the apologies to the public, a written letter to the Prime Minister and a more thorough explanation of details to ensure that incidents are reduced.
“Everyone believes that Leon will have serious effects on things like this and give the chairman of BTC frank and candid advice. I suspect that the conduct of the corporation in this recent failure is proof of his influence,” Mr Wilson said.
Comments
proudloudandfnm 10 years, 7 months ago
So thanks to Leon we got an apology.
Damn! Well that changes everything. Whew!!
birdiestrachan 10 years, 7 months ago
Mr. Wilson you did a good job with the BTC shares. But you are a brilliant man from over the hill. May God continue to bless you. You also give back to your Church and the collage of the Bahamas. you do what you really do not have to do.
John 10 years, 7 months ago
So when will BTC shares be made available to the public? Then maybe one day Bahamians can reclaim majority ownership of the company
countryfirst 10 years, 7 months ago
With all the young smart Bahamians why are we recycling Leon Williams and the like.
Cornel 10 years, 7 months ago
Here's an idea. The Government needs money, 'cause no one pays there taxes, so why don't they sell their shares to the public.
Oh, I know why, The people will take the share and not pay the Government for them. . .
newcitizen 10 years, 7 months ago
What a waste of time and money. We're opening up competition to the telecommunications market in the Bahamas, we should have been selling off the rest of BTC, not getting more.
The governments, time and again, have proven they have no idea how to actually run a corporation.
proudloudandfnm 10 years, 7 months ago
Can you please just table the damned thing so we can read it and make up our own minds?
Enough of these bullshit press releases now. Table the damn deal...
countryfirst 10 years, 7 months ago
The biggest problem at BTC is that government is still involved.
Sign in to comment
OpenID