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Govt needs more information about Delgado finances
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Posted on Feb 15 2005
The CNMI government has no hard facts about the finances of Verizon buyer Pacific Telecom Inc., according to assistant attorney general James Livingstone.
Livingstone, who represents Gov. Juan N. Babauta on the Verizon deal, also noted yesterday that Pacific Telecom is not yet authorized to buy the telephone company.
“The Delgados have not been allowed to purchase Verizon. [The Commonwealth Telecommunications Commission] has not done that. One of the comments (finances) is still pending at CTC,” Livingstone said during a media briefing at the Governor’s Office yesterday morning.
The CTC is expected to convene and possibly rule on the matter tonight, he said.
PTI executive vice president for business development Jose Ricardo P.R. Delgado, who is currently on Saipan, expressed confidence that PTI would remain solvent as reflected in the Delloitte and Touche report.
“Based on the Delloitte and Touche report, the company [PTI] can fulfill its obligations and promises [under different] realistic scenarios,” Delgado said. “When the facts are demonstrated, our position will be vindicated because we have said… that we are financially and technically qualified.”
Despite the long process in obtaining the license to operate Verizon, he said PTI remains committed to the proposed purchase of Verizon. This, he said, also demonstrates PTI’s commitment.
