{"id":24255,"date":"2012-08-01T09:11:16","date_gmt":"2012-08-01T13:11:16","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=24255"},"modified":"2012-08-01T09:19:09","modified_gmt":"2012-08-01T13:19:09","slug":"plps-btc-take-back-plan-is-ill-advised","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2012\/08\/plps-btc-take-back-plan-is-ill-advised","title":{"rendered":"PLP’s BTC Take-Back Plan Is Ill-Advised"},"content":{"rendered":"
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BTC Powered by LIME<\/figcaption><\/figure>\n

Wall Street has begun a probe into the government’s apparent drive to re-nationalize the Bahamas Telecommunications Company (BTC), Guardian Business can reveal.<\/p>\n

Edward Al-Hussainy, assistant vice president and analyst at Moody’s, confirmed that he has reached out to the Progressive Liberal Party (PLP) in an effort to resolve the million dollar question: How would The Bahamas pay for the re-nationalization of its only mobile services provider?<\/p>\n

The top analyst is also attempting to discover whether acquiring a majority interest in BTC from parent company Cable and Wireless Communications (CWC) is indeed in the public interest.<\/p>\n

“To me it is not clear. As far as I can tell, it (BTC) is quite profitable,” said Al-Hussainy.<\/p>\n

The disclosure by Moody’s adds a new international dimension to the PLP’s continued push for re-nationalization. Prime Minister Perry Christie exclusively revealed to The Nassau Guardian recently that he has hand-picked a delegation to negotiate with CWC executives in August.<\/p>\n

Businessman Franklyn ‘Snake’ Wilson, former Attorney General Sean McWeeney, attorney Rowena Bethel and former BTC CEO Leon Williams make up the Bahamian team.<\/p>\n

Reserving his final judgment on The Bahamas, and calling his comments “preliminary”, Al-Hussainy said Moody’s simply wants to ascertain if the move by the PLP “makes sense”.<\/p>\n

The comments from Moody’s are the second time in recent months that the ratings agency has expressed concerns over government policy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wall Street is investigating the government’s plan to re-nationalize BTC as it appears to be a senseless move that is not good for the country or for Bahamians.<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[36,93,263,40],"class_list":["post-24255","post","type-post","status-publish","format-standard","hentry","category-business","tag-btc","tag-corruption","tag-foolishness","tag-government"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/24255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=24255"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/24255\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=24255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=24255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=24255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}