TSTT's Statement on AMPLIA

Port-of-Spain, Trinidad -  October 1, 2018

TSTT wishes to clarify the streams of misinformation that is circulating with regard to AMPLIA Communications, its ownership and its relationship with TSTT and bmobile.

TSTT acquired 100% shareholding of Massy Communications Limited (MCL) on July 31st, 2017. MCL was acquired by TSTT for $215M and has been audited and assessed to be $42M less than the “Net Book Value” of the assets.  At the time of this acquisition, MCL was operating as a subsidiary of the Massy Group of Companies, with an existing Board of Directors (BoD). As a result of the acquisition, the MCL BoD resigned. The normal industry practice is that the parent company appoints either existing Directors and/or Management to its subsidiary Board and as such TSTT appointed a BoD for the acquired entity.  Additionally, given that MCL was no longer part of the Massy Group, the formal name of the company had to change; MCL was formally changed to Amplia Communications Limited in November 2017.

TSTT made the business decision to operate Amplia as a 100% wholly owned subsidiary of the TSTT Group with its own BoD and Management.  The standard business strategy with Mergers and Acquisitions (M&A) is to extract all possible business synergies, economies of scale, best practice and harmonization for efficiency, efficacy, and improvement in Customer Service.  TSTT has one commercial brand which is bmobile. The decision for one commercial brand was made in 2016 when the company simplified its myriad of commercial brands including, Blink and blink|bmobile.  As such, all Amplia products and services must be marketed through the established Group commercial brand- bmobile.

After one year of operations, TSTT determined through its in-depth business analysis that  in order to provide the best service to customers and simultaneously improve the business performance of the residential fibre business service offering that all residential fibre services will be better managed through Amplia.  TSTT’s residential fibre business currently accounts for less than one percent (1%) of TSTT’s entire customer or revenue base.

Amplia does not have either a Wireless or Mobile concession to legally operate any of those lines of business and there are no pending applications with the Regulator, the Telecommunication Authority of Trinidad and Tobago (TATT).  Given that more than 70% of TSTT’s business will be wireless, the inference of a reverse “take-over” is implausible and simply inaccurate.

TSTT has engaged with all relevant stakeholders including the Communications Workers Union (CWU) on this acquisition, the business implications and other relevant matters.  As part of our ongoing stakeholder consultation, TSTT reenergized its regular Executive Forum with the CWU in May 2018 to ensure that there is transparency and clarity with our decision especially those that may impact employees.

 Amplia is a member of the TSTT Group of companies and is a 100% wholly owned subsidiary of TSTT, and it will continue to operate in that manner.

In keeping with global, regional and local demands, the telecommunications business model has to change to ensure that companies in the industry remain relevant and survive.  TSTT is committed to providing the best quality of service to our customers while ensuring the survival of TSTT which is in the best interest of the people of Trinidad and Tobago.