The government is now in discussions with Blue Tel over a 49 per cent controlling stake in the Bahamas Telecoms Company.<\/P><\/p>\n
Government officials said the BahamaTel group – which included a unit of JP Morgan Chase and of Citigroup – offered a price that “was too low”.<\/P><\/p>\n
“We were not satisfied that we were arriving at a point which would have resulted in a successful outcome,” said an official of the government’s Tenders Commission of the BahamaTel offer.<\/P><\/p>\n
The Blue Tel consortium consists of local investors, a subsidiary of Deutsche Telekom, and the private equity arm of Bank One Corporation of Chicago.<\/P><\/p>\n
Neither the government nor the bidders have publicly stated the prices made in the bids. However, officials said this year that the utility was worth about $350m, and that offers should reflect this. The government will keep a 51 per cent stake, which it will eventually sell.<\/P><\/p>\n
By Canute James, The Financal Times<\/B><\/p>\n","protected":false},"excerpt":{"rendered":"
The Bahamas government has terminated talks with the BahamaTel consortium, an investment group including two Wall Street firms that was planning to take over the country’s telecoms provided.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","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":[12],"tags":[],"class_list":["post-244384","post","type-post","status-publish","format-standard","hentry","category-headlines"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/244384","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=244384"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/244384\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=244384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=244384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=244384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}