Kirk Griffin, CEO of Bahamas Telecommunications Company (BTC) said the company is currently facing financial challenges. "We lose US$ 3 million per month in roaming and US$ 36 million per year." However, the executive pointed out that BTC is working to keep up with technology and evaluating the migration to 3G.

Earlier this year, the government announced its decision to sell its 51% stake in BTC. In July, closed the bidding process and the new owner is expected to be revealed in September.

The majority shareholder will have the operational control of the company that presently services 334,000 mobile customers, 132,000 fixed line customers and 18,500 broadband accesses.