September 09, 2003
BahamaTel Named as BTC Preferred Bidder
The Minsitry of Finance, last night, confirmed that the BahamaTel consortium, led by former JP Morgan (Europe) managing director Tom Bain and featuring the private equity arms of the world's two largest financial services conglomerates, had been selected as the preferred bidder for the 49 percent stake in the Bahamas Telecommunications Company (BTC).
BahamaTel's selection as the preferred bidder over Blue Telecommunications and Trans World Telcom (Bahamas) came as little surprise to those in the financial and investment community. The designation as preferred bidder does not necessarily mean that the consortium will be confirmed as BTC's strategic partner, with full management and operational control.
BahamaTel now enters a 30 day exclusivity period, in which it has to negotiate with the Government-appointed tenders Commission to see if both parties can reach an acceptable agreement over BTC's privatisation.
Posted by admin at September 9, 2003 11:18 PM