Last update: 12-Dec-2013 4:50 am
Thursday, December 12, 2013
Trinidad & Tobago Guardian Online
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Where is TSTT heading?
In November 2012, the Business Guardian published a Question and Answer interview that was done with Tim Pennington, the chief financial officer of Cable & Wireless Communications (CWC), the UK company that owns 49 per cent of local telecommunications provider TSTT, which is 51 per cent owned by National Enterprises Ltd.
In that interview, Mr Pennington disclosed that CWC was in the process of refocusing the company to concentrate on the Caribbean and Central American regions. As a result of that policy, CWC sold two of its profitable businesses in Macau and Monaco and the Islands.
Mr Pennington also made it clear that CWC was very interested in acquiring a controlling stake in TSTT and that if the T&T Government, which controls NEL, was not prepared to give up control of TSTT to CWC, the UK firm would be prepared to sell its 49 per cent stake in the local company.
Here’s a condensed version of what Tim Pennington, the CWC executive, said nearly a year ago about his company’s relationships in T&T:
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