BTL's prospectus will be published on October 15th - and the company will be open for sale to the public and strategic investors.
One group that has expressed interest is the BTL Employees Trust. Of course, the trust is for the employees in name only because it is and has always been actuated and operated by employees or affiliates of the Ashcroft alliance. No BTL employee makes decisions or signs on behalf of the trust.
Still, immediately after the Prime Minister announced on September 21st., that Telemedia shares would be offered for sale, Trustee Dean Boyce wrote to the Prime Minister saying the Trust is interested in buying shares and not just a few; the trust says it wants to purchase controlling interests.
So is it legit, or just more clever corporate gamesmanship? The Prime Minister told us he won't even dignify the letter with a response.
PM Dean Barrow
"Not at all because as far as I am concerned that employees trust is fraudulent; that is merely a vehicle for the exercise of control over whatever shares the trust would own by Ashcroft cohorts, by the Belize Bank, who is protector of the trust and by Dean Boyce and Keith Arnold who are in fact the trustees. What has the trust ever done for the employees of Telemedia? So there is empirical evidence to go by, not only are the employees not involved in the trust; not only is the trust controlled by Ashcroft cohorts, on the basis of the data, on the basis of the facts that trust has never done anything for the employees so in my view this is merely a ruse to try to gain back control of the company by the Ashcroft forces."
Jules Vasquez
"Not clear by how you can close the sale because the trust can operate perhaps through some special purpose vehicle and purchase the shares without you even knowing who is really behind it."
PM Dean Barrow
"We will be looking carefully at the applications for the purchase of shares. I am not suggesting that these people aren't ingenious, we know that they are but we believe that we can guard against that."
And while the trust says it wants to buy, its attorney Godfrey Smith has written a cautionary letters to Digicel - the Irish phone giant that has been considering a BTL investment - warning that company of pending claims against Telemedia.
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