It's been rumored as a nearly done deal for months, but the Intelco buyout is looking mighty shaky tonight. 7NEWS has received unconfirmed reports that Jeffrey Prosser has been turned down by the Royal Bank of Trinidad and Tobago in his bid to make a multi-million us dollar loan to buy over Intelco's assets valued at US$52 Million.
According to government sources, the RBTT rejected Prosser because of Belize's over exposure. It's a crushing blow, because if the bank who's stuck with the defunct company's assets rejects the only person who's interested in them...then which institution would give the loan? We can't quite say, but until then, the Intelco asset remains moribund, and GOB's and Social Security's exposure on this deal remains significant, reported to be in the range of US$40 million.