No money will exchange hands….NEWS BREAKING FIRST ON BAHAMAS PRESS…
MAJOR ANNOUNCEMENT EXPECTED TODAY….
Nassau, Bahamas — After months of intense negotiations with telephone provider, Bahamas Telecommunication Corporation [BTC], Bahamas Press has learned CWC executives will land at LPIA today to sign a Memorandum of Understanding to return the control of the company back into the hands of the people of the Bahamas.
That announcement will come at 5pm today, with a signing of the Memorandum of Understanding. The location of that signing will be announced later today.
Bahamas Press has also learned CWC will maintain the day-to-day management control of the corporation.
We can also report in the “major new deal” no money will exchange hands for the control of the company, and NOT ONLY WILL THE BAHAMIAN PEOPLE NOT PAY FOR THE 2%, but the $100 MILLION BUY BACK CLAUSE LOCKED-INTO THE SALE BY HUBERT INGRAHAM REGIME WILL BE WAIVED….
Boy this is going to be interesting.
At some point following the announcement we are sure there will be a heated Parliamentary Debate on the return of BTC to the Bahamian people. That debate, we are certain, will be interesting.
Two weeks ago, Prime Minister Christie hinted, “Obviously we have something to announce. I would want to be able to explain and have with me the negotiating committee so we can explain the entire agreement that we have arrived at. It is even more significant than BTC shares. I think it is going to be important for me to speak to the Bahamian public and to remove the speculation from the public firstly that I could not do it, and secondly that I was wasting my time; so all of that now will be answered and we will be able to show the Bahamian people what we arrived at.”
During the hotly contested 2012 general elections Christie delivered an election promise that he will move with his government early in his administration to reacquire the control of BTC in the interest of the Bahamian people.
Boy I tell ya – A wonder what Papa Clown saying now?
2:21am this morning BREAKING CONFIRMATION FROM CWC following this breaking report: “Cable & Wireless Communications notes today’s press speculation in The Bahamas and confirms it has come to an agreement with the Government of the Commonwealth of The Bahamas the details of which will be disclosed at a press conference at 5pm Bahamian time tomorrow, to be attended by the Prime Minister of The Bahamas and the CEO of Cable & Wireless Communications.”