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BallaDoc

Manx telecom buyout completed

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https://www.three.fm/news/isle-of-man-business/manx-telecom-buyout-completed/

Apparently a bunch of suits based in Mayfair, London, trading as Basalt Infrastructure Partners, have bought Manx Telecom for £255 million.

Now, I don't claim to understand high finance, so this is a genuine question: what does this mean, in real terms, and should we be worried about it?  Presumably the suits in London see it as a good investment opportunity, and the reason they have paid £255 million for it is because they hope to recover their original stake, plus lots more money, by extracting annual dividends from Manx Telecom, i.e. the money gets siphoned out of the island and gets spent on private jets in London, stockbroker mansions in Surrey and whatever all else very rich people spend their money on.  Again, should we be worried about this?  Maybe not.  Manx FM doesn't seem particularly worried about it and they've given it the same amount of airtime as the axing of the Jeremy Kyle TV show.  So maybe I am worrying unnecessarily about it.  It just makes me a little uneasy, that's all.  

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In the normal course of events I'd say that's free market economics for yer. But, in reality, isn't it the case that the main telecoms infrastructure will belong to the Suits as well as a retail operation (land & mobile networks)? So, in essence they have the potential to screw the opposition (Sure) and their own customers resulting in any profit disappearing off-island. 

In the UK operators have to pay a kings ransom for access to the market and networks. Does the same apply to IOMG/Communications Commission?? Shouldn't the Manx Taxpayer see some of those licence fees for the greater benefit of the Island (not necessarily the CS pension pot!)?

Anyway..... here's what the Communications Commission has to say about the situation as it is now and what they expect the public to tell them by way of a consultation

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Price hike due shortly then...

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manx gas 2  here we come

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55 minutes ago, Non-Believer said:

Price hike due shortly then...

 

55 minutes ago, Non-Believer said:

Price hike due shortly then...

Fixed line rentals already going up 5.4% from next month. 

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MT bought for £255 million

How much can a politician, Councillor or Head of Department be bought for? 

Here comes 5G, the cutting down of trees, smart meters, smart grid, electric cars, surveillance of people, medication to stop the increased mental health issues and so on. But hey, I might be wrong and everyone lives happily ever after and Bobby becomes a superhero :)

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What on earth is that consultation asking????????????????????

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