SUNDAY SPECIAL: BTC is now more than ever an existential national risk to The Bahamas! MORE THAN CLIMATE CHANGE!!!
NASSAU | The Free National Movement sold BTC in 2011 for Net Cash outflow of $148 Million.
Five (5) years later (2016), Cable & Wireless sold itself and BTC to Liberty Global for $7.4 Billion or 10.7 times Earnings Before Interest Taxation Depreciation & Amortization (EBITDA). BTC’s EBITDA at the time of Sale was $128 Million. Its value 10.7 times $128 Million or $1.37 Billion.
On November 10, 2023 – Liberty Latin America Ltd., sold 1,300 Towers in Panama, Jamaica, The Bahamas, Puerto Rico, Barbados, and the British Virgin Islands including 345 BTC Towers to PHOENIX TOWER INTERNATIONAL for a Cash Settlement of $355 Million.
Yinner shudder listened to and supported BP years ago when it told the Foreign National Movement (FNM) not to sell BTC to C&W. Now the Government of The Bahamas gotta deal with Liberty Global, Liberty LATAM, Cable & Wireless and Phoenix Tower International.
Will they sell the Fiber Optic Submarine Cables connecting the Family Islands and Haiti Next? Then the Buildings and Land???
BTC is now more than ever an existential national risk to The Bahamas. And the questions to this craziness get worse:
1] The Cell Sites are at the Base of the Towers. Does this sale include the Land the Towers are built on?
2] What did the Government of The Bahamas [GOTB] get out of the deal?
3] Was this deal approved by URCA?
4] If this continues, the GOTB 49% Share in BTC will be worthless. BTC will only be a Shell Company in The Bahamas with nothing to show.
Read for yinner-selves. I GONE!!!
WE REPORT YINNER DECIDE!
