BRIDGETOWN, Barbados, Thursday June 21, 2018 – Less than a year after setting up shop in Barbados, telecommunications company Ozone Wireless is facing possible takeover by its competitor Flow.
Online newspaper Barbados Today said it had been reliably informed that the two sides have been actively engaged in negotiations.
But Flow’s Director of Communication and Stakeholder Management Marilyn Sealy said she could neither confirm nor deny the reports, while Ozone’s Head of Marketing Natalie Hartman was also tight-lipped on the matter.
In the meantime, Ozone, which officially began operating in Barbados last July, has either severed or lost several key staff members since April, with Managing Director Mark Conway, Chief Executive Officer Sylvain Tassé and Head of Marketing Dianne Squires among those who have parted ways with the telecoms provider.
Hartman also declined to comment on those developments.
However, well-placed sources say the company has been experiencing severe financial challenges over the past several months and was forced to lay off at least two batches of workers.
Ozone was granted a licence to operate in Barbados in 2014 and had pumped about BDS$20 million (US$10 million) into its operations up to the point of opening.
Officials had promised at the time that the company would hire more than 50 people – over 90 per cent of whom would be Barbadians – while promising over 600 locations across the island where customers could recharge their credit.
However, it has since found the going quite tough and has had to entertain purchase bids from both Digicel and Flow. However, the Digicel discussions did not result in an agreement. (Barbados Today)