By L.K Hewlette
St. Kitts – Nevis Observer Reporter
Red flags are being raised regarding the government’s latest privatization deal and land initiative which when combined, could gross close to 300 million dollars.
During a ceremony held at the Marriott Resort last Friday, Prime Minister Dr. Hon. Denzil Douglas signed the necessary documents to sell government’s equity interest in Cable and Wireless (St.Kitts – Nevis Ltd.) netting over EC$36 million.
Cable and Wireless (West Indies) purchased the shares from the government at $6.41 each and is required to make them available to the public at $5 per share, plus the usual transaction costs. However, only 30% of the 17% shares sold by the government will be made available to the public.