Four BTC bids assessed

1 Dec 2009

The Nassau Guardian reports that four bids for the Bahamas Telecommunications Company (BTC) are being actively considered by the country’s privatisation committee. According to the local paper, a bid from a consortium comprising Vodafone and One Equity Partners (OEP), has the highest score under the government’s ranking criteria. OEP is JPMorgan Chase’s private equity arm, which manages more than USD8 billion in assets. The other three bids are from pan-Caribbean wireless group Digicel, Atlantic Tele-Network (via a consortium which includes Colina Financial Advisors) and Trilogy International Partners (which is backed by Providence Equity Partners). Two further bids – from Sun Capital Partners and Allied International Investments Limited – failed to make the committee’s short-list.

In addition to acquiring a 51% shareholding in BTC, the new owner will gain operational control of BTC, which currently provides services to over 334,000 wireless, 132,000 fixed line and 18,500 broadband customers across the island.

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