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HomeNewsCWC denies reports of finder’s fee in BTC sale

CWC denies reports of finder’s fee in BTC sale

Cable and Wireless Communications(CWC)said yesterday that there is”no finder’s fee”attached to its deal to purchase 51 percent of the Bahamas Telecommunications Company(BTC).

CWC sought to dispel the rumors that a three percent finder’s fee was being offered.

The idea that a finders fee existed was largely passed along during protests by the Bahamas Communications and Public Officers Union(BCPOU)and the Bahamas Communications and Public Managers Union(BCPMU), as they outlined their grievances with the sale.

A union member-reportedly of the National Congress of Trade Unions-insisted as a salient point of order during a mass rally at BCPOU headquarters, that they wanted to know who in BTC would received the”finder’s fee”.

According to CWC, nothing like a finder’s fee has been paid to anyone and the information that the fee ever existed was mere”speculation”.

The company insisted that the only fees paid in relation to the sale were for services of accountants, lawyers and consultants.

“We wish to confirm that no such finder’s fee of the type described in recent speculation has been paid,”the CWC release said.

The unions have been fervently opposed to the sale of BTC to CWC and have already engaged in several days of industrial action, which was later deemed illegal work stoppages by the government.

BCPOU President Bernard Evans, and BCPMU President William Carroll were both named on an injunction served on the unions to prevent any more industrial action.

That matter with the government is expected to be complete some time in January.

However, the unions maintain that they will not back down from their fight against CWC’s proposed purchase of BTC.

The BCPOU is expected to engage in meetings again tomorrow in order to formulate its way forward and draw up its next plan of action against the sale.

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