residents after it was revealed yesterday that the Minister of Finance will this week decide on whether to give his approval for a buy-out deal for failed Quantum Communications.

Renee Webb , Telecommunications and E-commerce Minister, said in the House of Assembly yesterday that there was a buyer for Quantum, which went out of business and was put up for sale two years ago.

She said: "There is a buyer interested in buying Quantum which would help create competition with BTC.'' After the meeting Ms Webb said that a decision by the Minister of Finance Eugene Cox was "imminent''.

The agreement, she said, was before Mr. Cox and his Department for consideration.

At the time of going to press the identity of the buyer had not been established.

If the deal for Quantum goes ahead it will have to be signed with its major shareholders, BELCO Holdings Ltd and Cable & Wireless (Bermuda) Ltd, and the interested party.