CWC Thanks the 22 FNM MPs for Selling Profitable BTC in a Fire Sale

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Cable & Wireless Communications (CWC) is pleased that the Bahamas Parliament has approved the privatisation of the Bahamas Telecommunications Company (BTC) and its purchase of 51% of the business.

Geoff Houston, who is leading Cable & Wireless Communications’ transition team, commented:

“We are looking forward to working with our partners in Government, and all the groups involved with BTC, in a way which benefits all the people of The Bahamas.”

The transaction was approved by the Utilities Regulation and Control Authority on March 11 and is awaiting approval by The Central Bank of The Bahamas. If approved, the transaction is expected to complete on April 4.

7 COMMENTS

  1. @ Looking

    This is not a transfer of wealth, this is an absorption of incompetence.

    We will, hopefully sooner rather than later, be able to enjoy what people in Europe and the UK (and US to certain extent) take for granted – reliable modern communications at competitive prices. Frankly, if I were CWC, I wouldn’t touch BTC with a barge-pole, it’s beyond repair and hope, the only way forward is to break monopoly and allow independent companies to offer communication services in competition with BTC.

  2. I have listened to all of the diatribe on the sale of BTC, lets be serious about this, the FNM stated in their manifesto that they would sell the company and that is what has been done. We live in a country in which the majority rules, the FNM is the government of the day and hence their decisions must be respected. BTC is sold,its a done deal lets just move on. Ooooooh, almost forget before we move on why isn’t there a call for all BTC union reps to be fired, this is what should happen. It is time for union members to wake up to the fact that their union leaders are using their hard earned Monies to forward their nasty political agendas. Ask your selves who is going to pay the thousands of dollars in court fees, might I saw on an futile exercise to stop the sale of the company. I think they should all step down and apologize to the members for using the union as a political whip, and dip into their pockets and pay the court fees that continue to pile up an a futile exercise. LETS KEEP THIS IN MIND THE MAJORITY VOTED FOR THE FNM AND THEY SAID WHAT THEY WOULD DO, IF THEY WERE ELECTED AND THEY ARE DOING JUST THAT.

    • LIME soon come praise GOD we saved! we gon get cheap minutes n 3G n 4G n iphone n crackberry! we gon save mor $$ to start farm

  3. This transfer of our wealth leaves me sad and embarrassed. We have once again given our Caribbean brothers and sisters in the region a reason to laugh at us. They thought we had lost our minds after voting out a government who was seen to be growing the economy at the time, now we are selling or practically giving away, our most prized possession. Cable and Wireless are saying thanks because that is the polite thing to say but, I can only imagine them laughing at us behind our backs while bragging, that it was like taking candy from a baby. I feel we have been had and the 21 YES plus Mr. NO/YES have betrayed our TRUST.

  4. Hell!! They had to thank that cabal of sycophants. After all they chose to turn their backs on us for their colonial overseers at C & W. What C & W is saying to us is that while we may have a say, they will have their way. Sadly governments of banana republics always sell their people out so cheaply. Well, the Aga Khan has indeed gotten an excellent return on his efforts. The FNM is the UBP in “black face” ( the make-up applied during the thirties when whites played the black parts in the arts and movies). The M.P.s for Foreign National Movement say that BTC was no “sacred cow”…neither are they. See you soon fellas. Take my advice and wear raincoats because we want to spit on you all.

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