UTS share distribution not yet finalizedPOSTED: 03/17/11 2:10 PM
St. Maarten – A discussion has begun and must be finalized on the political level on a dividend policy for United Telecommunications Services (UTS). The company is owned by St. Maarten and Curacao, with the latter being the majority shareholder.
The share division has not been finalized as parties are still discussing a proposal that gives Curacao 87.5 percent of the shares and St. Maarten 12.5 percent. The figures have been contested by St. Maarten and relevant documents are now being reviewed in order to come to a counter proposal.
St. Maarten’s shareholder representative is Justice Minister Roland Duncan.