BTC privatization moves quickly ahead. !!!SELLOUT!!!!

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1256869478_0707e628dfNASSAU, Bahamas, The Ingraham government is quickly looking for a buyer for Bahamas Telecommunications Company Ltd [BTC].

In an advertisement published Tuesday in several domestic and international publications, the government said it is seeking to sell a 51 percent stake in company, which currently provides services to over 334,000 wireless customers, 132,000 fixed line and 18,500 broadband customers.

The government said it is seeking a buyer with ‘strong reputation in the telecommunications industry; the ability and commitment to generate value-added revenue and cost synergies with BTC operations; financial strength and operational platform to be able to enhance BTC’s underlying network, services, billing and customer service and a history of strong financial performance.’

Interested parties are invited to register for the privatization process of BTC through the submission of a registration form and the payment of a processing fee of US$25,000 on or before July 28, 2009. The registration form and guidelines on the submission of the registration form are available at: http://www.btcprivatization.com/. The fee is non-refundable.

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4 COMMENTS

  1. The Bahamas government has spent in excess of $150 million in its pursue of SELLING BTC TO FOREIGNERS.$139 million was spent on disengaging BTC’S employees and the rest was spent on privatisation advice.During this same time BTC has spent more than $200 million in acquiring the latest technology in telecommunication,indeed as we speak BTC is presently spenting some $50 million in new technology.BTC has also achieved more than $300 million dollars in NET PROFITS during this 10 year period.Now with all the above stated facts being listed please tell me why the government does not want to sell BTC to Bahamians?The only conclusion i can reach is OUR GOVERNMENT IS NOT INTERESTED IN FINANCIALLY EMPOWERING BAHAMIANS.I hope Bahamians realise that a huge percentage of BTC’S profits will now be shipped out of this country,thus ENRICHING OTHERS AND IN RETURN MAKING BAHAMIANS POORER.I hope Bahamians remember CLICO AND THIS RECESSION,IT WAS ALL CAUSED BY OTHERS NOT BAHAMIANS!!!

  2. Jelly, You are asking a question that many bahamians asked sinse 2007. The PLP had engaged in a bahamian buyer but The present Government turn them down. BTC was very frofitable but has sinse decreased in the last two years. Even though it is still profitable, I myself wonder why are they selling it because it is not in any great danger unlike BEC etc… So Jelly, I HAVE NO IDEA WHAT IS GOING ON

  3. if btc is profitable why are we selling it? an if we are, why not look inward im sure we have capable citizens who are up to the task who can go out and do a cable bahamas $1.00 a share deal to help with financing.

  4. I want to closely see what happens to this company. In the election the whole thing was that BTC was going to Bradley and Co. I saw no proof unless they wer connected to Bluewater. Let’s see who BTC goes to and whoes connected to it.

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