The Bahamian government expects to conclude the sale of its strategic 51.75% stake in mobile operator ALIV by April this year, Tribune 242 reports. Government adviser Gowon Bowe told the Tribune that Prime Minister Hubert Minnis, who took charge in May 2017, and senior cabinet members have now ‘agreed in principle’ that the plan for disposing of the stake set out by the previous administration should be followed through.
As such, the ‘final’ private placement memorandum (PPM) will be reviewed this month by the respective boards of directors at HoldingCo – which retains the government’s stake – and co-owner Cable Bahamas Limited (CBL), which holds the remaining 48.25% stake. The stake sale is expected to generate around BSD70 million (USD70 million).
According to TeleGeography’s GlobalComms Database, ALIV launched in November 2016, breaking up the long-held Bahamas Telecommunications Company (BTC) mobile monopoly.