GEORGETOWN, Guyana
Guyana says it will sell its 20 percent share in the U.S.-controlled Guyana Telephone & Telegraph Co. to an unidentified Chinese buyer.
Cabinet Secretary Roger Luncheon says the new minority owner will have two years to complete the $30 million purchase, paying $25 million up front.
GT&T director Yog Mahadeo said late Thursday that he has not been informed by local authorities or been contacted by the likely buyer.
The company has complained that the government is trying to set up a rival telecommunications enterprise.
Last year, legislators withdrew a bill that would have ended the company's 20-year monopoly.
The Guyana Telephone & Telegraph Co. is controlled by Massachusetts-based Atlantic Tele-Network Inc