BTC Sells Majority Stake

BTC Sells Majority Stake


Bahamas Telecommunications Company (BTC) has signed an MoU to sell a 51% stake to Cable & Wireless (C&W) for $210m. The UK-based telco will also obtain management control of the company. The deal will be financed with cash and existing debt facilities. In a conference call, C&W executives say they expect BTC's 2010 Ebitda to be $90m-$100m. They also say they expect to cut operating costs by reducing inefficiencies. Privatization of BTC is part of the Bahamian

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