Privatization plans for Telem proceed “according to schedule”

POSTED: 07/4/11 12:03 PM

St. Maarten – The government plans to privatize its telecom provider Telem proceed “according to schedule,” Prime Minister Sarah Wescot-Williams said this week in Parliament. The plans have been on the agenda for years and already when interim manager Pieter Drenth left in the fall of 2009 there was a shortlist of three companies: UTS, Digicel and Lime.

“The negotiating team is presently finalizing talks with the three selected companies,” Wescot-Williams said. “When this process is completed a due diligence will take place with the selected company. Once we have reached a principle agreement a formal proposal will be made to the shareholder by the supervisory board of directors. It is expected that this process will take a couple of months.”


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