Belize - Belize News - Channel5Belize.com - Great Belize Productions - Belize Breaking News
Home » Economy, Featured, Miscellaneous, People & Places » Lord Ashcroft Says Sale of Utility Shares May Help
Feb 22, 2017

Lord Ashcroft Says Sale of Utility Shares May Help

Michael Ashcroft

Lord Ashcroft also commented on the possible privatization of the utility companies.  In his view, while it will be difficult to get investors to purchase minority shares; the sale of utilities can be an opportunity for a solution to the Super Bond issue.

 

Lord Michael Ashcroft

“Would you invest in a company that is a minority in a government-regulated business when you have seen what the government has done already, not just to Telemedia, but to Belize Electricity Company? That when things don’t quite go their own way—and if I recall rightly, even the water company was privatized and all the government guarantees were not fulfilled and eventually they had to buy it back from the private sector; and I believe that was a British water company that actually bought it. It seems to me to be a difficult sell, unless of course they force Social Security Board to buy it. But I would suspect that even the Social Security Board might be a little weary, especially that at the moment it seems the Telemedia shares they were persuaded to buy seems to be underwater in valuation. But taking that valuation and taking the bondholders, the Government of Belize has said that the price paid for Telemedia, through this arbitration, will turn out to be a good investment. So to solve the bond problem and to solve some of the foreign currency problems, why doesn’t the Government of Belize go to some international agent—one of the big investment banks—and put the whole of Telemedia up for sale to the highest foreign bidder? And if the Prime Minister is right about the value, you can solve the bond problem, you can solve the foreign currency problem and you would have professional expertise running the major telephone company in Belize.”

 

We’ll have the entire interview with Lord Ashcroft on Thursday morning on Open Your Eyes.

Be Sociable, Share!


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

Advertise Here

3 Responses for “Lord Ashcroft Says Sale of Utility Shares May Help”

  1. mr. sampler says:

    sounds more wise than what barrow is trying to lie to the people of Belize.

  2. Timber says:

    Awwww,,, guess who has raised his head again? Read my blogs from Feb 13th and 19th. He knew this was coming. He knew they would self destruct. If you all don’t think that he already had mechanisms in place to reacquire BTL and anything that seems viable, you’re sadly mistaken. Then, watch how he will low ball the value of the shares and the net worth of the companies. He is the ultimate and consummate businessman. You all, even though I have roots in Belize, are so dumb and look at the wrong things. Too many of you expect too much for nothing and are used to handouts Did you one day stop to ask why the hell did Anwar Barrow step down from his dictatorial appointment given by his father at the helm of BTL with the kind of salary he was making if things were so beautiful and rosy? Do you all think that after raping this country of millions of dollars in legal fees and hustlings , life will be so much better for Denys Barrow in the Caribbean? They have hustled enough but aren’t satisfied. They all saw and knew the handwriting was on the wall. Now, guess who has to suffer? Yeah, you got it right, the poorer class of Belizeans. The next move is for Dean to throw Anwar into running for politics in Port Loyola or Queens Square.

  3. carlos says:

    Governments are there to provide the environment for investors to invest not to administer these entities. When will Mr Barrow learn this?

Leave a Reply

CAPTCHA Image
*