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Privatisation of Bahamas telecoms company enters due diligence phase
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| Published on Thursday, October 15, 2009 | Email To Friend Print Version
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NASSAU, Bahamas -- The Committee for the Privatisation of The Bahamas Telecommunications Company Ltd ("BTC") announced on Wednesday that the privatisation of BTC continues to progress with significant interest from prospective parties.
Upon review of the pre-qualification packages submitted in August, the government of The Bahamas has narrowed down the list of interested parties and has invited a select group of potential buyers to participate in the due diligence phase of the privatisation process.
The due diligence phase will provide potential buyers with the opportunity to review business, financial and legal information, as well as meet with key executives prior to submitting an economic bid. Due diligence will be conducted over the next several weeks and the deadline for bids is currently expected to be the end of November.
Those who have been invited to this phase were selected by the government based on information submitted evidencing their suitability in accordance with the required pre-qualification criteria. To comply with non-disclosure agreements, the identity of parties invited to participate in the due diligence phase cannot be disclosed prior to the close of the transaction.
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