Laqtel
LaqTel Ltd. ("LaqTel Communications") is a privately held up-start mobile phone and wireless service provider, of Trinidad and Tobago. Currently a division of Telcom Holdings Ltd. (TH), LaqTel was first founded in 2002 by Dr. Joseph Laquis, the current CEO of LaqTel Communications is, Michael Barrow.
History
Laqtel was initially financially backed by a group of local investors who were awarded one of the primer mobile licenses- by the Telecommunications Authority of Trinidad and Tobago (TATT) on July 5, 2005. The licenses awarded to Laqtel and one other bidder formally began the process of mobile competition in Trinidad and Tobago along side the former Telecommunications monopoly provider TSTT.
Laqtel Communications was successful in its submitted bid along with the one other candidate namely: Digicel. The previous two companies were chosen to make up the initial wireless landscape of Trinidad and Tobago. The further three bidders for licenses: NatTel, Cingular Wireless and Telkom Caribe were unsuccessful in this licensing round.
Prior to the TATT announcement of which companies received licenses, both Digicel and Cingular Wireless had announced a deal where Digicel will acquire from Cingular their entire Caribbean and Bermuda-based wireless networks and licenses, thus leaving only Laqtel and Digicel as new entrants in Trinidad and Tobago.
The entry of Laqtel and Digicel into the local mobile and wireless market place was heralded by many in Trinidad and Tobago as the official start of competition in the wireless industry.
Partners
Following the announcement of Laqtel being chosen by the TATT, Laqtel announced they had entered into a long-term partnership with a Saskatchewan, Canada based corporation named Saskatchewan Telecommunications International. Laqtel further disclosed it intends to launch a CDMA-based 3G (CDMA 2000 Ix EV-DO) mobile network to be completed on or around the end of 2005. It is was also made public the intention of the company for the network to be run in partnership with the government-owned SaskTel International corporation. Laqtel also contracted for their network to consist of equipment created by Nortel Networks. In November of 2005 the relationship between Laqtel and SaskTel started to sour, and by January 2006 the two companies parted ways. Laqtel has now found a new equity partner in PalTel - the Palestinan telecoms company - and plans to roll out its network late in Q3 early Q4 have restarted.
Laqtel was provided with one of two new mobile service licenses by the Telecommunications Authority of Trinidad and Tobago to officially bring about competition to wireless monopoly currently held solely in the country by the Telecommunications Services of Trinidad and Tobago Ltd. (TSTT).
Sunbeach
Sunbeach was selected as an attractive launch-pad for regional expansion for LaqTel because there were no mobile or wireless
providers using the CDMA technology in Barbados. In addition, Sunbeach which had been awarded a mobile license since August 7th, 2003 was unable to
amass the initial capital needed to roll out their own mobile network. The other two mobile providers in Barbados that were
awarded mobile licenses at that time; Digicel and
Telecom Holdings Ltd. placed a sum of US$2.59M in escrow with the Caribbean Money Market Brokers (Barabdos), while it awaited government approval for the acquisition. It was stated that roll-out for LaqTel's parent company in Barbados would be only around US$16M while in its own native Trinidad it would cost somewhere around US$49M. A key aspect of the deal was that Telecom Holdings Limited could create roaming agreements so that Barbados' lucrative one-million plus tourists while on vacation could continue to use their own mobile phones from their home country.
LaqTel has since gained approval and paid US$400,000 to the Government of Barbados to maintain the Sunbeach Communication 2005-2006 mobile license in that country. LaqTel has a very ambitious plan for roll out in Barbados. The company believes with little to no hiccups in the roll-out process the island could have a working Wireless network in the short span of 16 weeks. Costing somewhere between US$7M - US$10M. Plus the US$2.59M cost of purchasing Sunbeach.
References
LaqTel
- Five companies bid for mobile telecom licences - December 18th 2004: Trinidad Express
- Competition near says regulator - December 23rd 2004: Trinidad Guardian
- Laqtel very confident, says Laquis - December 23rd 2004: Trinidad Guardian
- Cellular License Competition Laquis: Brains of David vs bulk of Goliaths - December 23rd 2004: Trinidad Guardian
- Digicel, Laqtel new cellular providers June 24th 2005: Trinidad Express
- SaskTel International Awarded Management Contract in Trinidad and Tobago SaskTel International Press Release - July 08, 2005
- LaqTel Signs US$50 Million Contract with Nortel to Build 3G Wireless Broadband Network in Trinidad and Tobago Nortel Press Release - July 29, 2005
- LAQTEL STANDING TALL - August 10th, 2005: Trinidad Express
Sunbeach Communications
- 'SUN' OFFER - September 6th, 2005: Barbados Daily NationNews
- Telcom after roaming tourists - September 12th, 2005: Barbados Daily NationNews
- Laqtel eyes Barbados company - September 14th, 2005: Trinidad Express
- Government clicks 'okay' for Sunbeach deal - October 10th, 2005: Barbados Daily NationNews
- Sunbeach licence not forgotten, says LaqTel - November 28th, 2005: Barbados Daily NationNews
- Sunbeach gets okay to sell shares - January 16th, 2006: Barbados Daily NationNews
- Trinidad firm to buy out Sunbeach shares - January 30th, 2006: Barbados Daily NationNews
- Sunbeach gearing up - February 08th, 2006: Barbados Advocate
- THL's offer on the table to take over Sunbeach - February 21st, 2006: Barbados Advocate
Laqtel has not paid employees for December 2006, January 2007 and February 2007.
See also
- Sunbeach
- List of Trinidad and Tobago companies
External links
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