De Geus: “Without a strategic partner, UTS will not survive”
WILLEMSTAD – The search for a strategic partner for the public company United Telecommunication Services is a matter of survival. “Without a strategic partner, we will be dead,” said the CEO of the company Paul de Geus. According to De Geus, the new government that will be installed after the elections should have this as one of their priorities.
The decision to search for a strategic partner was made at the beginning of this year, but now the company is in the execution phase. Both the shareholders (Curaçao and Sint Maarten) and the Supervisory Board gave the green light for this process.
De Geus stated during a press conference that they need the approval of both governments. It is possible for Curaçao to buy the Sint Maarten’s shares. But Sint Maarten also agreed on the privatisation of the company and the better option is for the both countries to work together on this process. “Both countries are in the process of elections and this could bring some delay to the process,” said De Geus.
De Geus also expressed his concern about a new minister in charge of the public company. “You don’t know if this person has the same ideals and same agenda as we now have. Maybe we need to begin a new process.”
But, according to the CEO, whatever the results are of the election, UTS needs a strategic partner. “People are calling less and using more internet. What we receive for our internet services is a lot less than our income for calls. New companies are doing business with a lot fewer costs than us.”