Government's move to create a competitive telecommunications market.

The new Telecommunications Policy, released Friday by Minister of Management and Technology the Hon. Grant Gibbons, will allow licensing of four new companies in the Bermuda market to break the monopoly on international telecommunications held by Cable and Wireless and the domestic monopoly enjoyed by Bermuda Telephone Company Ltd. (Telco).

"We are pleased with the effect that the policy may have on the cost of doing business in and from Bermuda. That cost is likely to be reduced providing added attraction to the consideration of Bermuda as a place for international business,'' said BIBA chairman Mr. Cummings Zuill.

"Bermuda has always held a leading edge in telecommunications,'' he said.

"This new policy will ensure that Island will not only hold onto that leadership position but will be able to attract new and innovative industries.

This will only serve to further enhance our stature as a premier international business centre.'' Companies to be awarded licences include; TeleBermuda International Ltd., Bermuda Digital Communications Ltd., Telecommunications (Bermuda and West Indies) Ltd. and North Atlantic Telecommunications.

Applications by Global Access (Bermuda) Ltd., Bermuda Global Access Ltd., Island Bell and Bermuda International Telecommunications were denied.

(See also, C&W on Page 11.)