After eight months of research, consultation and reports, Senator Le Sueur today unveiled proposals to go before the States in April. They recommend selling to either another telecom company or a group of investors, with the money put in the Island’s so-called rainy day fund. He would not be drawn on a likely price for the business. However, John Davey of stockbrokers Collins Stewart said Jersey Telecom would not reach anywhere near projections of £200 million. His firm may well lead a bid from local investors that is likely to propose that the company be floated on the Channel Islands Stock Exchange. Other analysts believe the company will sell for well over £100 million. Guernsey Telecom was sold to Cable & Wireless for under £30 million but that was believed by many to be underpriced.
