Antigua and Barbuda Prime Minister, Gaston Browne, has not ruled out considering compulsory acquisition of Scotiabank Antigua, according to a local news report.
Browne wants the owners of Scotiabank to revisit the sale of the Antigua branch to Republic Financial Holdings Limited of Trinidad and Tobago.
Antigua Observer said he had threatened not to sign a vesting order which the PM asserted was needed to facilitate the sale.
According to the publication, on Saturday on his radio station, Pointe FM, Browne declared that Antigua and Barbuda is using the vesting order to literally negotiate a position in which the local entities should be given a first preference.
“And, as I said earlier, we also have the option of compulsory acquisition if they choose to fight us,” Antigua Observer quoted Browne as saying.
He said he hopes that it does not come down to that, and that the institutions accept the proposals he plans to put forward during the meeting, likely to take place on Wednesday, the newspaper reported.