The Tribune

By KHRISNA VIRGIL

Tribune Staff Reporter

kvirgil@tribunemedia.net

PRIME Minister Perry Christie says he is close to a resolution in negotiations for the majority stake in the Bahamas Telecommunication’s Company Ltd.

Speaking to Parliamentarians yesterday, Mr Christie explained that he met with BTC’s parent company Cable and Wireless during his stop in London while out of the country on an 11-day trip.

“I am confident that we are close to a resolution,” Mr Christie said, “and further positive initiatives by Cable and Wireless which we discussed and which will positively impact employment, the economy, sports and the arts.

“We also continued to discuss options on how Bahamians can be beneficiaries of the majority interests of BTC. We have agreed that there need not be any further discussion at our level as all the relevant issues have been discussed. The matter should be finalised by the Committee appointed to conduct negotiations with BTC,” he said.

“I took the opportunity in London to meet with Mr Tony Rice, outgoing Chairman of Cable and Wireless, and Mr Phil Bentley incoming Chairman. The meeting was in part a courtesy call to introduce Mr Bentley.”

BTC was sold to CWC in 2011 under the previous Ingraham administration. The company is 49 per cent owned by the public and 51 per cent controlled by CWC.

Unsuccessful attempts were made to contact Franklyn Wilson, head of the government appointed committee to negotiate the take back of the majority shares.

In October, Mr Christie admitted that the discussions were in a state of uncertainty with the announcement that Tony Rice, CWC’s outgoing CEO had tendered his resignation.

“It may stop negotiations and we have to determine whether the negotiations had some implications to what happened to him.”

Mr Bentley is the former managing director of British Gas in the United Kingdom.