Telemedia was offered for sale in mid-October, and the search for a strategic investor started some months before that. But, none has come on board and last week Wednesday we asked the Prime Minister what's the status. Here's what he told us.
Prime Minister Dean Barrow
"I've just had a text message from the Chairman of Telemedia, last night, telling me that he's now received, a firm offer if you will, from the group of Argentinian Investors that had made a couple of visits to Belize, that they had sent a draft letter of intent. It appeared that they were having some difficulty raising all of the financing, and so they were talking about making a loan here in Belize, which we didn't entirely agree with. We want the foreign exchange inflow. According to Chairman Vasquez, they've now indicated that they're good to go, that they have identifed enough funds to be able to make a firm offer for 45% of the share-holding. So they come in now to negotiate the terms of the share-purchase agreement, and that's very important. They will want certain safe-guards; we have to be careful that there will be nothing in the agreement that will be, in the slightest degree, reminiscent of the accomodation agreement. So there is going to be some work to be done, but they are saying that they're firm in terms of having the money, and now are making a decided offer for 45% of the share-holding."
The Prime Minister spoke to us after he addressed a group of workers for the City drainage project.
When speaking to those Southside residents, he also made a reference to an ongoing programme that has seen what the PM called, 15 "high energy gang members and affiliates from the most challenging areas of the city", dispatched to jobs in the rural areas of three different districts.
He told the group last Wednesday which districts are involved and why it has become political, and social.
Prime Minister Dean Barrow
"We were going to attach some of the youth at risk - some of the young men that we know are involved in the cycle of violence, to the Ministry of Works, and we will try to get them out of the Old Capital; we'll try to get them out of Belize City. We'll try to start off with a little 15; we will try to put 5 in Toledo, 5 in Corozal, and 5 in Orange Walk. I saw the Leader of Opposition with a little crowd in Orange Walk trying to 'burn fire' on the program. The guys are living in the San Lorenzo Community, in Orange Walk Town, getting the residents together to sign a petition to try to run the people out of Orange Walk town. Well as far as a know it, this Belize Country belongs to all of us. And each and everyone of us has a right to live wherever we choose. They'll play politics with it and try to excite fear on the part of Orange Walk residents? Fear that is completely unjustified. I said early that we will get opportunities, but when you break the law, we will deal with you in the same way. And I think that you all understand that . So they people that we sent to Orange Walk, they don't have any 'free paper' that they can go out there and do whatever they want; no, the police are keeping a close eye on them. But we believe that if you give them the chance, you give them an opportunity to work 5 days a week to earn a decent living, to live with dignity, they will not give any trouble."
The programme continues and as we understand it, the persons involved come home to the city on weekends.
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