Telecoms deal raises concerns in Trinidad & Tobago

There is more concern in the region regarding the pending buyout of  Columbus International by Cable and Wireless Communications.

The Communications Workers’ Union (CWU) in Trinidad & Tobago has declared that it is opposed to the acquisition.

The union, which represents workers at Telecommunications Services of  Trinidad & Tobago (TSTT) has characterised the move to acquire Columbus as being tantamount to corporate raiding.

In a strongly-worded two page statement, the CWU said it objects to the notion of any foreign multi-national holding majority shareholding in any of the major firms in the Trinidad & Tobago telecommunications sector.

The CWU said this development has raised serious questions about the policy direction of  the Trinidad & Tobago Government, as it relates to the telecommunications sector, and it is calling for the government to intervene.

The union has also predicted higher telecom prices and job losses as a result of  the C&W buyout of Flow. 

Discussion

Meanwhile, news has come that Larry Howai, Trinidad & Tobago's Finance Minister, will be discussing the implications of  the Cable and Wireless takeover with telecoms officials in that country.

Mr Howai is scheduled to meet with the management of  the TSTT, in which Cable & Wireless holds a 49% stake, as well as his colleague, Public Utilities Minister Nizam Baksh.

The CWU has called for Mr Howai to investigate how the acquisition occurred without the Government and the Telecommunications Authority of Trinidad & Tobago knowing beforehand.        

Mr Howai, in response to calls for his government to purchase the 49% stake in TSTT, held by Cable & Wireless, said this would have to be a decision of Cabinet.

The Trinidad & Tobago Government holds the other 51% of the company.