Ambitious Telecom plans
Thursday 28th October 2010, 3:00PM BST.
Chief executive Graeme Millar
JERSEY Telecom could be several times bigger than it is now by 2016, when a new strategy revealed today is fully put in place.
The States-owned business is to embark on an ambitious five-pronged growth programme from next year.
As part of it, JT will be looking to buy other telecoms companies outside of the Channel Islands.
But an assurance has been given that the company will not pay over the odds just to secure a deal.
Chief executive Graeme Millar said it would also extend its business internationally by partnering Island-based finance firms as they expand overseas.
• Read a full interview with Mr Millar in today’s JEP
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Isnt this a state owned company, ie taxpayer owned? Since when did we vote to get involved with running a telecoms business surplus to the islands needs? Unless its going to bring benefits to jersey why do it? And you can achieve this by partnering not risking jersey taxpayer money.
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As part of it, JT will be looking to buy other telecoms companies outside of the Channel Islands.
But an assurance has been given that the company will not pay over the
Great news; but not at risk to the Jersey Taxpayer!
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I agree with you Mark, nice to seem ambition in a Jersey company. Hopefully their strategy will reap rewards for the island.
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I am not against them going down this route but I think it would be more appropriate if they were not a State’s owned company.
They are of a size where a partial or even total AIM flotation would be possible.
I would guess that a lot of islanders would buy a few thousand shares and that would make them quite immune to a takeover.
Best of both worlds!
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Ah , well that’s nice to hear.
After making me and others redundant as part of the need to reduce staff and costs from alledged regulator pressure, it’s going to grow again.
Well it will give them the chance to recruit new staff at a lower rate, as folk scramble for any scraps.
That’ll be circa £150k + bonus for CEO, luvly jubly ….
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Any chance of decent broadband speeds as part of the expansion or do they plan to continue with their “pay more get less” policy?
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No acquirers of businesses plan to pay over the odds, yet in the heat of the moment 70% do, according to Harvard Business School. Mostly because they over estimate what they can do. Perhaps worth bearing in mind that percentage is even higher for international transactions and in the telecommunications industry, who’s excesses over the last 20 years the stuff of legends.
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JT have still got a long way to go before its customers get value for money. For example the latest Sky Telephone/Broadband/TV package available in the UK at only £20.00 a month really does show the gap at the moment.
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Oh, here we go again…
Jamie, you could always go and live in the UK and get your services for that price. Or would you find that you are suddenly earning a lot less than you are in Jersey.
It’s so dull and repetitive to hear people moan about how much they pay for broadband and mobiles in Jersey compared to the UK.
The UK has a customer base of 60 million people so can afford to go in with tiny charges as the sheer number of possible customers can cover this. As a small operatory like we have 4 of in Jersey (yes, 4) for only 100,000 people where do you think any profit is going to come from? The telecoms services, from any of the operators are businesses – not charities for self righteous people that believe they have a right for everything for nothing.
If someone goes to the market and buys a doughnut for 75p I think nothing of it, because they want a doughtnut. And yet the same person could feel the need to complain that a 10 minute call to Australia costs that same amount of money. I may be wrong (or a pig) but a doughnut will last me 10 minutes as well and I’m pretty sure that the cost of the infrastructure to make a call to the other side of the world is a little more than the price of a pan and some dough.
Paulc at the top there “unless it is going to bring benefits to Jersey why bother doing it”
really? how naiive can you be?
The regulator has allowed multiple operators to have access to a limited customer base which only achieves a drop in revenue for any of the companies. JT is a tax payer, from its 300 + staff to the revenue that it makes as a business. And then on top of that, whatever is left goes to the states. That is money that they then don’t need to ask you and me for in higher tax rates. So it benefits Jersey for them to be a successful, profitable company surely? Or is that a too complicated benefit for you to appreciate?
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