Cable & Wireless' monopoly, Finance Minister Grant Gibbons said yesterday.

Dr. Gibbons was responding to a Parliamentary question from Opposition MP Walter Lister over rate structures for Cable & Wireless and competitors TeleBermuda.

Dr. Gibbons told the House of Assembly: "We operate in a global telecommunications market and I would have to suspect they would be looking at rates in terms of our close neighbours.'' He was speaking after Mr. Lister pointed out that a coast-to-coast call in the US, around 3000 miles, was 10 cents a minute compared to 87 cents a minute from Bermuda to the east coast of the US, only 700 miles.

Mr. Lister asked if Government's timetable to allow both firms to set their rates with restrictions was on schedule.

Dr. Gibbons written reply said TeleBermuda are not subject to rate control.

He added: "With regard to C&W, the Minister has asked the Telecommunications Commission to investigate the matter and advise him on when it would be an appropriate time remove C&W from rate control.'' Dr. Gibbons said the Commission were awaiting a submission from C&W.

He added the submission would be available for public comment, with a 30 day deadline.

Dr. Gibbons said: "C&W will be allowed to respond to any comments and then the Commission will complete its deliberations and make a recommendation to the Minister.'' And he added that C&W had squared off against UK monopoly British Telecom in 1984 with the Mercury network -- and that there were still "residual restrictions'' on BT as a result of strict rules to stop a giant operator squashing a competitor.