St Maarten MP submits bill to expedite UTS minority stake sale

16 Apr 2019

A Sint Maarten MP has submitted a bill to parliament aimed at expediting the sale of the government’s 12.5% stake in United Telecommunication Services (UTS) to Liberty Latin America (LLA). SMN-news.com reports that MP Rolando Brison has initiated a draft national ordinance that would facilitate the government to sell the minority UTS shares before risking the dilution of their value.

Last month, US-based Liberty Latin America (LLA) entered into a definitive agreement to acquire an 87.5% controlling stake in UTS, which operates fixed and mobile services in the Caribbean island nations of Curacao, Sint Maarten, Saint Martin, Bonaire, Saint Barthelemy, Sint Eustatius and Saba. Curacao’s government is selling the 87.5% stake for around USD165.4 million (valuing the UTS group at USD189 million).

Curaçao, Sint Maarten, Liberty Latin America (LLA), UTS (Curacao), UTS (Sint Maarten)