This was disclosed by Science, Energy and Technology Minister, Dr. Andrew Wheatley, who indicated that this follows the entity’s failure to comply with all of the stipulated conditions attached to its Domestic Mobile Spectrum Licence.
“I have written to the principals of Symbiote indicating that I’m in receipt of a recommendation from the Office of Utilities Regulation (OUR) and, as such, I’m proceeding with the revocation.
There were a number of conditions that they breached (which) at one point…. was a matter of outstanding fees… and as such the OUR recommended that we proceed to revoke the licence,” he said.
The Minister was responding to questions posed by Opposition Spokesperson on Technology, Julian Robinson, in the House of Representatives on Tuesday.
Meanwhile, Dr. Wheatley advised that no Ministerial approvals have been granted for any of the licences awarded to Symbiote to be transferred to their new owners.
The Minister said he was unable to confirm whether the firm has been sold to an entity named Involution Limited.
He said, however, that he was advised by letter dated August 12, 2017 that Symbiote’s shareholders had, in principle, arrived at a decision to divest their interests in the company to South Africa-based telecommunications company named Institution IX.
Dr. Wheatley further said that Symbiote, via a letter dated October 4, 2017, requested approval pursuant to section 17 (2) of the Telecommunications Act, to transfer operations of its control to Involution.
He said Symbiote explained in the letter that the transfer would be way of sale of a percentage of its issued share capital.
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