Friday, May 8, 2009

Government's shares in GT&T up for sale!

Government Representative on the Board of Directors of the Guyana Telephone and Telegraph (GT&T) Company, Winston Brassington, yesterday said that Government has formally indicated to the Atlantic Tele Network (ATN) its intention to sell its 20 percent share in the local phone company.

Brassington made these remarks during an interview with the National Communications Network (NCN) following the company’s annual shareholders’ meeting.

“We formally indicated to ATN that we would like to sell our 20 percent share in GT&T and we are first offering it to ATN. Should ATN decline to buy our shares, we would then seek to sell it to third parties,” Brassington said.

He said Government has been contemplating this decision for a while now.

“We have indicated to ATN that if they wish not to buy our shares, then we reserve the right to sell it to third parties. GT&T is an extremely profitable company; last year the profit after tax exceeded $4B from the year before, so we believe that our shares are valuable.”


  1. Is only 20% de Govt. did own!? How I use to hear all dem people complaining and rowing to de Govt. bout deh phone I de always though was the whole company was their own……

  2. For a pretty long time now the phone company has been somewhat dormant. If this sale was to somehow boost their capabilities and service I think it is a move in the right direction.

    Govt. was getting a lot of fight back from the company…….

  3. Wondering if we will see a bigger and better network in Guyana soon