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Bahamas completes sale to C&W

NASSAU, Bahamas (AP) The Bahamas has completed the sale of 51 percent of its telecommunications company to London-based Cable & Wireless Communications.The Bahamian Utilities Regulation and Competition Authority approved the $210 million deal last month. On Wednesday, the government received the purchase price in full, as well as cash dividends amounting to an additional $14.3 million.A government statement says a new board has taken over management and described the privatisation of the telecom as “essential for the advancement of the Bahamian economy”.Cable & Wireless Communications operates in the Caribbean under the trademark Lime.The Bahamas Telecommunications Company is the sole mobile operator in the British territory.