Companies shortlisted for BTC due diligence

15 Oct 2009

The committee in charge of overseeing the long-running (eleven years and counting) privatisation of state-owned Bahamas Telecommunications Company (BTC) claims the process is ‘advancing’ and that there has been ‘significant interest’ in the sale of a 51% stake. ‘Upon review of the pre-qualification packages submitted in August, the government has narrowed down the list of interested parties and has invited a select group of potential buyers to participate in the due diligence phase of the privatisation process,’ a statement from the body reads. According to BNamericas two companies failed to pre-qualify, after they failed to meet the financial and technical criteria. The due diligence phase will provide those remaining with the opportunity to review business, financial and legal information, as well as meet with key executives prior to submitting an offer. The deadline for final bids is expected to be set for the end of November.

Bahamas, Bahamas Telecommunications Company (BTC),

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