Trinidad-based mobile provider Laqtel says it is currently in negotiating with a possible new investor who is based in Dubai, and an agreement could be reached soon, the Daily Express reports today.

According to the newspaper, Laqtel Group founder Dr Joseph Laquis yesterday Laqtel had so far spent over US$32 million US dollars on its system in Trinidad, with 90 per cent of switching and 169 cell sites in place.

Laqtel and TSTT last week signed an interconnection agreement which will govern the exchange of mobile and fixed line traffic between their networks.

New investment in Laqtel should pave the way for the company to complete its purchase of a majority stake in the Barbados Internet Service provider Sunbeach Communications, which received a mobile licence two years ago, but so far has been unable to roll out its mobile service due to a reported lack of capital.