MORE PEOPLE WILL LOSE THEIR JOBS?
By: JJosephaNews
Reading Time: 2:10 mins.
Twitter: @JJosephaNews
Willemstad, Curacao. According to reports, the Telecommunications company; Flow will close its two stores. Their branch at the Renaissance hotel and the store on the Gosieweg are going to close.
MORE UNEMPLOYMENT IN CURACAO
Customers will only be able to visit the customer service center in Saliña. This follows from the announcements published by the telecommunications company. The company is adapting its services to be as digitized as possible. Allegedly, the closure of Flow's branches means that some of the staff will lose their jobs and become unemployed.
WHEN THE GOVERNMENT OF CURACAO SOLD ITS COMPANY UTS
On March 26, 2019, the parent company of Cable and Wireless Communications ("C&W"), Liberty Latin America Ltd. (LLA), announced that it had reached a definitive agreement with the Government of Curacao to acquire 87.5% of United Telecommunication Services (UTS). At the time, the Curaçao government was made up of the PAR, MAN, and PIN political parties. The Minister in charge of the UTS at that time was the Ministry of Traffic, Transport and Urbanism, headed by; Mrs. Zita Jesus-Leito (PAR political party). UTS was the only national government company (government owned) for communications. UTS provided video, broadband, fixed line telephony and mobile LTE services to residential and business customers in the island nations of Curacao, St. Maarten, St. Martin, Bonaire, St. Barths, St. Eustatius and Saba. BroadSpan Capital LLC acted as exclusive financial advisor to UTS for this transaction.
Liberty Latin America bought all the shares of UTS for 339 million guilders. After deduction of taxes and debts and guarantees for staff pension arrangements, the Curacao government, as the former owner of 87.5 per cent of the shares, had about 95 million guilders left over from the sale. Sint Maarten owned 12.5 percent of UTS shares, but parliament first had to adopt a national ordinance on the sale of the block of shares. On September 10, 2019, Liberty Latin America Ltd. (“LLA”) announced that it had completed the acquisition of the remaining 12.5% of United Telecommunication Services (“UTS”). The UTS workforce was reported to have shrunk from 480 to 200 employees in 2020.
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