Govt not selling TSTT shares

This word comes in the midst of a squabble between TSTT and Irish telecommunications company, Digicel, about the completion of an inter-connection agreement between the two parties by November 30, that would effectively open the telecom market and officially end TSTT’s 26-year monopoly of the market.

Sources yesterday claimed that moves were in train for Government to sell its 51 percent shareholding in TSTT. However Sahadeo, under whose portfolio the Divestment Secretariat falls, told Newsday that no decision has been made to divest TSTT at this time. She said the secretariat reviews divestment matters on a regular basis, and no decision has been taken where TSTT is concerned. Sahadeo previously indicated that divestment issues were complex and timing was critical in the successful completion of such matters. The minister referred to the case of Caroni (1975) Ltd to support her position.

Saith, who is Public Administration and Information Minister and the line minister for TSTT, said he has not received word of any plan to sell Government’s shareholding in the company. Other company sources yesterday dismissed talk of Government divesting TSTT as pure speculation and rumours. At Thursday’s post-Cabinet news conference at Whitehall, Saith said Government was not intervening in any inter-connection matter involving TSTT and Digicel despite its 51 percent shareholding in the former, and would allow the process to take its course. The acting Prime Minister said there was an agreement with TSTT’s minority partner (Cable and Wireless) and Government will do nothing to breach that agreement.

Digicel (TT) CEO Stephen Brewer said both Government and the Telecom Authority (TATT) have been making every effort to liberalise the local telecommunications sector, and he remained confident that the November 30 deadline to complete the inter-connection agreement with TSTT would be met. Brewer said conversations he has had with several Government ministers since taking up his post on November 1 have convinced him that Government wants "an expedient inter-connection agreement made between the two parties."

Digicel (Caribbean) inter-connection manager Kevin Barrins said the company has experienced some problems establishing its mobile phone network in other Caribbean nations, but those problems were resolved in less than a year’s time with Government intervention. Digicel and local telecom outfit LaqTel were awarded respective cellular licences of US$16 million and US$9 million by the TATT in June. Cabinet approved cellular concessions to both companies earlier this month.