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Innovative Communication Corporation Purchases Belize Telecommunications

Posted By: Marty

Innovative Communication Corporation Purchases Belize Telecommunications - 03/23/04 04:25 AM

Innovative Communication Corporation Purchases Belize Telecommunications

WEST PALM BEACH, Fla., March 22 /PRNewswire/ -- The Government of Belize today concluded an unconditional agreement with Innovative Communication Corporation LLC for the sale of the shares in Belize Telecommunications Corporation, owned or controlled by the government, it was announced today by Jeffrey J. Prosser, Innovative's chairman, president, CEO and owner.

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The agreement will formally close on March 31 with the transfer to Innovative of the 52 percent of the shares in BTL recently acquired by the government from Carlisle Holdings Ltd. Innovative will pay the same price as that paid by the government for the Carlisle shares. Innovative's initial investment will be more than US$100 million.
Innovative will take over BTL's operations effective April 1.
In making the announcement, the government reiterated its commitments to the continuous review of policy in the telecommunications sector with a view to providing the people of Belize with modern and expanding telecommunications service.
Innovative is proud to be associated with the development of telecommunications in Belize, said Jeffrey J. Prosser. As a United States Caribbean-based company, ICC brings to Belize a commitment to universal service based on the best available technology and a full appreciation of Belize's development goals. Through its related companies, Innovative Communication Corporation LLC owns and operates trendsetting telecom and media companies in the U.S. and British Virgin Islands, Sint Maarten, Saint-Martin, Guadeloupe, Martinique and France.
Both the government and ICC stressed that the agreement concluded today makes provision for interconnection between the new BTL and other licensed operators, a matter which ICC recognized as requiring priority attention.
Today's agreement, said Belize Prime Minister Said Musa, sets Belize on a path of truly innovative telecommunications development, fulfilling the promise held out in our first Memorandum of Understanding with Innovative last October of advances in Belize's telecommunications sector consistent with the social and economic development needs of the country. We welcome ICC's partnership in this endeavor.
Innovative Communication Corporation LLC
Posted By: shelley

Re: Innovative Communication Corporation Purchases Belize Telecommunications - 03/23/04 08:56 PM

Marty,

Can we buy shares?
Posted By: JmHanna

Re: Innovative Communication Corporation Purchases Belize Telecommunications - 03/24/04 05:04 AM

What school did this guy go to?
:rolleyes:
Jeffrey Prosser
"Competition, unfortunately, usually results in service that is lesser quality, and ultimately since you are paying a number of different companies, I'm not for sure the customer ends up in a better position. I believe the companies end up in a better position with competition. I think companies make more money and customers, unfortunately, are the ones who foot that bill. And that's happened I think in every jurisdiction you look at that has had real competition. So quite honestly we think with competition we'll make more money, B.T.L. will make more money, not less."
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