PM Browne Threatens Compulsory Acquisition Of Scotiabank Antigua

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.

6 COMMENTS

  1. I continue to admire this PM for being a the leader that he is and taking charge of business, he is a true champion where all others are chimps and leading in fear. Show them how it must be done Sir.

  2. Classical Leader
    Way to go abt it SIR B
    Leads with integrity

    You showed us the reason
    You were given this name
    HEAD BOY.

    its written and Proven
    Best PM of the Caribbean

  3. There’s something horribly wrong with PM Browne, he’s acting like a politician who really cares about his people!

  4. The Banking Act does not allow the compulsory acquisition of a Bank. As an ex-banking official, he is fully aware of this. He is just speaking to his constituents. He is fully aware that only ECCB can intervene.

Comments are closed.

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