According to local media reports, the Gibraltar Regulatory Authority (GRA) has ordered CTS Telecom to cease operations after the company failed to renew two mandatory licences that expired a year ago. According to the watchdog CTS has been operating illegally since then and the GRA, which initiated court action last year, said the situation must not be allowed to continue.
According to the Gibraltar Chronicle, CTS owed the GRA nearly GBP120,000 (USD181,973) in unpaid licence fees and penalties, and also owed ‘substantial’ debts to other creditors, including the Gibraltar Government. Meanwhile, online portal GBG.gi pointed to a post on the company’s Facebook page which read: ‘Despite having two options of new investors and another international operator prepared to take over immediately, having written a letter of intent, offered proof of funds etc, the ‘establishment’ in Gibraltar are not interested. They are only interested in one thing, shutting CTS down’.