Government-backed incumbent operator Telecommunications Services of Trinidad and Tobago (TSTT) is close to finalising a TTD1.5 billion (USD232 million) loan to facilitate the company’s organisational transformation and develop its mobile and internet services. Trinidad Express quotes TSTT’s acting chief executive George Hill as saying that the company launched a competitive tender for the underwriting services of a bond. ‘We are borrowing TTD1.5 billion … for this bond through ANSA Finance and we are in the final stages of closing this. We expect by August to complete it,’ he said, adding that TSTT is investing in its infrastructure to develop its wireless telephony, mobile broadband and fixed internet services, to help it to better compete with mobile market leader Digicel. Meanwhile, the Guardian cites Hill as saying that TSTT expects to make a profit in its financial year ended 31 March 2015, compared to a net loss of TTD506 million for the twelve months to end-March 2014.
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