Minister responds to queries about negotiations to sell UTS | THE DAILY HERALD


PHILIPSBURG–Shareholder representative of United Telecommunications Services (UTS) Cornelius de Weever on Wednesday responded to questions posed by this newspaper regarding negotiations for the sale of UTS’ Curacao and St. Maarten operations.

  The Daily Herald understands that talks for the purchase of the company by Liberty Latin America, part of international telecommunications giant Liberty Global, are in the final stages.

When asked for an update during Wednesday’s Council of Minister’s press briefing de Weever said: “When you are negotiating with an international company like that you have to sign non-disclosure agreements. I do not believe this is the time or the place to disclose anything especially without having first spoken to Parliament because it is impossible that any minister will choose to sell any government owned company or shares in it without having discussions with the Parliament of St. Maarten as well as going through the Corporate Governance Council (CGC). These are steps that would have to be taken should that decision be headed in that direction.”

  When asked about the pending sale Senior Director, External Communications at Liberty Latin America Claudia Restrepo said in an email response to this newspaper that “We do not comment on market rumours or speculations.”

  Several Curacao based publications have been reporting on the pending sale of UTS to Liberty Latin America in recent months.

  Extra reported in late January that Liberty Latin America had been negotiating to purchase UTS’ Curacao and St. Maarten operations, while the Curacao Chronicle had reported in December that negotiations between Liberty Latin America and the government of Curaçao on the acquisition of UTS were in an advanced stage.

  Liberty Latin America is part of Liberty Global, said to be amongst the largest telecommunications companies in the world. Liberty Latin America owns Cable and Wireless with Columbus/Flow and operates in a number of countries in the region.

Source: The Daily Herald