Datang Group rumoured to be GT&T buyer

12 Sep 2011

The unknown party interested in purchasing the Guyana government’s 20% stake in Guyana Telephone and Telegraph Company (GT&T) is purported to be China’s Datang Telecom Technology & Industry Group. Stabroek News reports that the Chinese telecoms group has already begun discussions with the government, offering USD30 million for the stake – consisting of an initial payment of USD10 million-USD25 million, and the remainder to be paid over a seven to ten year period.

According to TeleGeography’s GlobalComms Database, in June 2009 the government attempted to sell its stake to Atlantic Tele-Network (ATN), which owns the other 80% of GT&T, but was declined. It is believed that the government wishes to complete a sale before the next elections, which are due in November this year.

Guyana, Guyana Telephone and Telegraph Company (GTT)