By NEIL HARTNELL

Tribune Business Editor

THE BAHAMAS TELECOMMUNICATIONS COMPANY (BTC) has recovered $8 million in per annum costs by slashing the wholesale and retail pre-paid phone card commissions to "market norms", it was revealed yesterday, with its majority owner paying $6 million less for its 51 per cent stake than originally advertised.

Tim Pennington, chief financial officer for Cable & Wireless Communications (CWC), told a London-based analysts' conference that the company ultimately paid $204 million, not the advertised $210 million, for its controlling equity interest because BTC's working capital on the deal-closing date was "lower than agreed" with th ...

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