by GERALYN EDWARD

WITHIN DAYS, over 800 Sunbeach investors should receive an offer from Telcom Holdings of Trinidad and Tobago to purchase their shares in the Internet service provider.

It is the latest development, and should conclude in new ownership of the company, the lifting of a year-long suspension on trading in its shares by the Barbados Stock Exchange (BSE), and the launch of the Sunbeach cellular service.

Chief executive of Telcom Holdings, Dr Joseph Laquis, said three members of the board had been retained to oversee the company until the annual general meeting, scheduled for February 17.

He said Telcom Holdings had agreed to pay $5 million for 51 per cent of shares in Sunbeach and would make an offer to all shareholders as required by Barbados' take-over laws.

"We have already paid half-a-million for the cellular licence and we have deposited US$3.2 million with Nortel for equipment," he added.

Share cellular towers

Eager to get the cellular service up and running, Laquis said Sunbeach would be willing to share cellular towers with present operators Digicel and Cable & Wireless.

"Our policy is to have 0.02 per cent 'drop' calls. That means if we need a few more towers to ensure total coverage, we don't want to be stopped. We believe, too, in not defacing the environment with all these towers, but we insist that we must have near-100 per cent efficiency," he stressed.

Laquis said the Sunbeach staff of 37 would be retained and would be expanded after the cellular service was launched.

Telcom Holdings is on the verge of launching its cellular service in the recently liberalised Trinidad telcoms market, through its company Laqtel Communications.

geralynedward@nationnews.com

From today's BARBADOS BUSINESS AUTHORITY.