Cable & Wireless prepares legal challenge to government

3 Apr 2012

The Trinidad Express reports that Cable & Wireless Communications (CWC), the 49% owner of Telecommunications Services of Trinidad and Tobago (TSTT), has threatened legal action against the Trinidadian government and its appointed TSTT directors for alleged breaches of governance. CWC complains that the directors appointed by the government, which owns 51% of TSTT through holding company National Enterprises Ltd (NEL), did not give the UK-backed firm’s appointed directors sufficient time to review important strategy positions, including plans to sell certain assets. CWC added that it is boycotting TSTT directors’ meetings while seeking legal advice; with not enough directors present, the telco will be unable to pass any top-level decisions including approving its annual budget following the close of its financial year on 31 March. The report adds that CWC has been looking at acquiring a majority stake in TSTT since last year, and has met with finance minister Winston Dookeran to further its bid.