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TSTT’s acquisition of Massy Communications being called into question by Government

TSTT’s acquisition of Massy Communications being called into question by Government

tstt massy

TSTT on the Share Purchase Agreement with Massy Communications

TSTT is now being called into question on the Share Purchase Agreement with Massy Communications by the Government of this country.

Speaking at the Post Cabinet Media Briefing yesterday at the Office of the Prime Minister, Minister in Office of the Prime Minister, Stuart Young said the cabinet is currently looking into the agreement; as they were not privy to the purchase.

Finance Minister, Colm Imbert 3

Finance Minister, Colm Imbert

Meanwhile Finance Minister, Colm Imbert in response to the SPA said it depends on the nature of the decisions made and its implications.

Minister Imbert said the government will be requesting the details of the acquisition and subsequently moving to address the matter.

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TSTT- while 51% state owned, is not mandated to report everything to the government of Trinidad and Tobago. This was the explanation given by TSTT Chairman Emile Elias on Wednesday, as he sat before the Joint Select Committee of Parliament on Wednesday- one day prior to the Post Cabinet Press Conference which heard the Finance Minister state that the government had not been made aware of the company’s latest acquisition.

Mr. Elias had been asked by Opposition Senator, Wade Mark whether the government had been given
information on the Massy buyout prior to the agreement’s signing to which Mr. Elias admitted that
the government had not.

Mr. Elias went on to highlight that many years ago, the High court and the Appeal Court ruled that
TSTT was not subject to the Freedom of Information Act and the Integrity Commission.

Contacted for comment on the matter this morning, Graeme Suite – Senior Manager Brand Public
Relations & External Affairs simply said the chairman had in fact given the explanation best suited
to the enquiry, during Wednesday’s Joint Select Committee meeting and he would defer comment at this
time.

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