The Tribune

clarken 11 years, 7 months ago

Because this deal was so flawed, it is essential that thegovernment address it and probably overturn it in order to not give current and potential investors the idea that it condones corruption. The deal was announced to the public at $210 mil, yet CWC officials have on more than one occasion said thatthey only paid $104 mil. The government has never explained what happened to the difference. This is public funds. Various evaluations have placed the value of the company at the time at varying multiples of the reported sales price. this deal stinks to high heaven and when you add CWC's reputation in The Caribbean and the fact that an onerous penalty was added by the government which is supposed to be looking out for the interests of the Bahamian people and this deal should simply be rescinded, an assessment made of how much CWC has already taken out of the company and the country and then they should be sent packing. CWC has obviously embarked on a course of stripping the company of its assets and value in order to maximise its dividend in the shortest possible time and the resultant disaster to the quality of service to the consumer is more than enough to justify a complete reversal of the deal.

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