WILLEMSTAD–The acquisition of United Telecommunication Services (UTS) by Liberty Latin America is nearing completion, according to Curaçao Minister of Traffic, Transport and Telecommunication Zita Jesus-Leito, who is still not officially naming the potential buyer.
She said they are awaiting advice from legal experts and corporate governance supervisor SBTNO. Once these are in, the Council of Ministers will take a formal decision to be confirmed in a general shareholder’s meeting of the government-owned company in which St. Maarten also has a minority stake of 12.5 per cent.
Such a meeting on the progress so far was also held last week, reportedly with participation of St. Maarten shareholder representative Minister Cornelius de Weever. However, it had been suspended soon after starting because not all the necessary documents were yet available.
The last step will be asking the Parliaments of the two Dutch Caribbean countries for their approval of the sale.
Liberty Latin America owns Cable and Wireless, under which Columbus /Flow operates. They are active in 20 countries in the region.
Source: The Daily Herald https://www.thedailyherald.sx/islands/85881-sale-of-uts-in-final-stage