Residents can buy C&W shares.(ST. KITTS & NEVIS)(Cable and Wireless (St Kitts & Nevis) Ltd)(Brief article)

0 Comments | Caribbean Update, November, 2007

The government has sold its 17% share holding in Cable & Wireless (St Kitts & Nevis) Ltd with the agreement that 5% of those shares be sold to residents of the twin-island Federation, reports Caribbean Net News (Sept. 26, 2007). "After extensive negotiations, they (C&W) agreed that they would not exercise their right of first refusal in respect of some 1,661,538 shares of the 5,649,230 shares held by the Government.

They were prepared give up their contractual rights in order to allow the Government to offer just under 30% of its shares (or 5% more of the total issued share capital of the company) to the people of St Kitts and Nevis," said Prime Minister and Minister of Finance, Dr Denzil Douglas.